NEWS

Success in Myanmar 2013 Offshore Bid Round

February 6, 2015 Project

Mitsui Oil Exploration Co., Ltd. ("MOECO") is pleased to announce that we have been successful in a joint bid in the Myanmar Offshore Bidding Round 2013 for three deepwater blocks located offshore Myanmar, namely Blocks AD-9, AD-11, and MD-5. MOECO will assume a 10% participating interest in each of these Blocks and subsidiaries of MOECO and Shell have signed production sharing contracts (PSCs) on 5th February with the Myanma Oil and Gas Enterprise (MOGE) formalizing our successful bids in each of the three blocks.

Block AD-9

SHELL MYANMAR ENERGY PTE. LTD. (Operator)

90%

MOECO OIL & GAS ASIA PTE. LTD.

10%

Block AD-11

SHELL MYANMAR ENERGY PTE. LTD. (Operator)

90%

MOECO ASIA OFFSHORE PTE. LTD.

10%

Block MD-5

SHELL MYANMAR ENERGY PTE. LTD. (Operator)

90%

MOECO ASIA SOUTH PTE. LTD.

10%

Location Map_Myanmar_Shell_PSCs_updated (HP).jpg

This successful bid and joint participation with Shell in offshore Myanmar reflects MOECO's aim to establish a more solid business foundation for further growth through continuous exploration and acquisition activities in Southeast Asia and globally.