Shell, MOECO Sign Contacts for Three Myanmar Offshore Blocks

Shell and its partner Mitsui Oil Exploration Co., Ltd. (MOECO) have signed exploration and production sharing contracts (PSCs) with Myanma Oil and Gas Enterprise (MOGE) for three deep-water blocks.

The step marks Shell’s return to upstream operations in Myanmar, the company said in a statement Thursday.

Shell will use leading deep-water exploration technologies including advanced tools for acquiring, processing and interpreting seismic and other geophysical data.

Under the agreements, Shell will assess the potential of deep-water blocks AD-9 and AD-11 (Rakhine Basin) and MD-5 (Thanintharyi Basin). The three blocks together cover some 21,000 square kilometres. They are located approximately 300 kilometres offshore in water depths ranging from 1,800 to 2,700 metres.

Shell is the operator and has a 90% interest in the three contracts with MOECO holding the remaining 10%.