Chinese oil firm granted exploration rights in Myanmar
16 Jan 2007
China National Petroleum Corporation (CNPC) and the Myanmar Oil and Gas Enterprise under the ministry of energy, oil and gas have signed an agreement granting the Chinese oil giant, exploration rights at three deep-sea blocks off Myanmar's oil-rich western Rakhine coast.
Under
the production sharing contracts, CNPC will carry out
oil and gas exploration at blocks AD-1, AD-6 and AD-8
off the Rakhine coast, covering a total area of 10,000
square-kilometres.
Since
October 2004 up to January 2005, a consortium comprising
two Chinese and one Singaporean companies had reached
a series of contracts with Myanmar on gas exploration
at onshore Block-M (Kyaukphyu)
and A-4 in western Rakhine state, block M-10 and M-2
in the Mottama offshore area, onshore Block C-1 (Indaw-Yenan
area) and Block C-2 (Shwebo-Monywa area) in Northwestern
Sagaing division.