Total acquires 40 pc PTTEP interest in Myanmar offshore block

Total acquires 40 pc PTTEP interest in Myanmar offshore block

9:16 AM, 3rd September 2012
Total acquires 40 pc PTTEP interest in Myanmar offshore block
Yves-Louis Darricarrere, President, Upstream, Total.

PARIS, FRANCE: Total agrees with PTTEP for the acquisition of a 40 per cent interest in production sharing contract covering offshore Block M-11 in Martaban basin. PTTEP (PTT Exploration and Production Plc.), Thailand’s national company, will retain the operatorship. The block covers an area of 5,373 km², with a water depth of 200 to 2,300 metres. The current exploration phase contemplates a well to be drilled by Q3 2013. This transaction will need to be approved by Union of Myanmar authorities.

“With this acquisition, Total will bring its well recognized deep offshore expertise and its world-wide proven technology to contribute to exploration activities in Myanmar and potentially develop the country’s hydrocarbon resources,” said Yves-Louis Darricarrere, President, Upstream, Total.

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