NEWS
Acquisition of Interest in Onshore Myanmar
August 31, 2015
Project
Mitsui Oil Exploration Co., Ltd. ("MOECO") is pleased to announce that wholly-owned subsidiaries of MOECO assumed 10% participating interest in each of the Production Sharing Contracts covering Myanmar onshore exploration blocks PSC-G and EP-2 from PTTEP South Asia Limited (Head office: Bangkok, Thailand, "PTTEP"), a wholly-owned subsidiary of PTT Exploration and Production Public Company Limited.
Interests after the transfer being as follows:
Block PSC-G
PTTEP(Operator) |
70% |
Palang Sophon Offshore Pte. Ltd. |
10% |
Win Precious Resources Pte. Ltd. |
10% |
MOECO ASIA PSCG PTE. LTD. |
10% |
Block EP-2
PTTEP(Operator) |
70% |
Palang Sophon Offshore Pte. Ltd |
10% |
Win Precious Resources Pte. Ltd. |
10% |
MOECO ASIA EP2 PTE. LTD. |
10% |
MOECO has positioned Myanmar and other targeted parts of South East Asia as its core business area. After the acquisition of the interests in Block PSC-G and EP-2, MOECO participates 6 Blocks in Myanmar and aims to further expand its business and pursues further acquisitions of new projects in the region and globally.