Italian explorer Eni has entered two production sharing contracts for blocks onshore Myanmar.
The joint venture with the Myanmar Production and Exploration Company covers blocks RSF-5 and PSC-K. Eni becomes the operator wit a 90% working interest in the licences.
The agreement marks Eni’s first entry into the Southeast Asia country, “and confirms its strategy to reinforce its presence in the South East Asia region, where Eni is already present in China, Vietnam, Indonesia and Timor Leste,” the company said in a statement.
Block RSF-5 covers an area of 1,292 square kilometres in the Salin Basin, about 500 kilometres north of Yangon, while block PSC-K covers an area of 6,558 square kilometres in the unexplored Pegu
Yoma-Sittaung Basin, in the central part of Myanmar.
The exploration period will last 6 years, subdivided in 3 phases, Eni added.