Myanmar has been closed to the rest of the world for the past many years, mainly due to sanctions. As the sanctions were lifted after decades, Myanmar held a licensing round for providing access to foreign players to its offshore. Some big and small players were able to take advantage of this opportunity, the most prominent name among them Shell. As Shell returns to Myanmar and again becomes an operator in this country, on its most important plans is to start 3D seismic acquisition offshore Myanmar. Shell has issued a letter of award to Polarcus, which is an Oslo-listed geoscience firm, for a 3D marine seismic project. Shell Myanmar Energy’s ambitions project is expected to begin in the last quarter 2015.
This year in February, Shell along with Mitsui Oil Exploration (MOECO) which is its partner, signed three different exploration as well as production sharing contracts with Myanma Oil and Gas Enterprise (MOGE). The aim here was being able to operate three offshore deep-water blocks and a as a result of these contracts Shell now has access to deep-water blocks AD-9 and AD-11(Rakhine Basin) and MD-5 (Thanintharyi Basin). In total, these blocks together cover 21,000sq km. This includes 300km offshore in 1800-2700m water depth. In these three contracts, MOECO holds 10 percent while Shell holds 90% interest and it is also the operator.