Woodside has signed production sharing contracts for offshore blocks AD-2, AD-5, A-4 and A-7 in the Rakhine Basin, awarded to Woodside in the 2013 Myanmar Offshore Bid Round, reports Penn Energy on March 20.
The agreement was signed on March 20. Woodside now holds interests in six different permits covering a combined area of 46,000 square kilometres. This makes Woodside the largest acreage holder in the emerging in the basin.
Woodside’s Executive Vice President Global Exploration, Phil Loader, said Woodside planned to commence an active programme of exploration in the region in 2015 and beyond.
“The Rakhine Basin is an emerging oil and gas province that fits very well with Woodside’s proven capabilities in deepwater exploration and development,” Mr Loader told Penn Energy.