Tap Oil, Roc Oil secure Myanmar offshore oil and gas production sharing contract
Tap Oil (ASX: TAP) and Roc Oil (ASX: ROC) have been awarded the M07 production sharing contract in the Moattama basin, offshore Myanmar.
The 13,000 square kilometre Block is located in the gas and condensate prone Moattama basin about 160 kilometres east of the 6.5 trillion cubic feet Yadana gas field and 110 kilometres east of the 1.5Tcf Zawtika gas field.
Moattama is Myanmar’s most prolific offshore hydrocarbon province, with existing production from two offshore fields and a third field close to production commencement.
Production is typically from stacked Miocene clastic reservoirs.
Tap holds a 35.625% interest in M07 while operator Roc has a 59.375% stake.
The block award includes provisions for the JV to undertake an 18 month Environmental Impact Assessment and Study Period, following which it has an option to proceed into a three year exploration work program.
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