ConocoPhillips, Statoil Awarded Oil, Gas Acreage Offshore Myanmar

Together with partner ConocoPhillips, Statoil has been awarded a deep-water exploration block in the Myanmar waters of Bay of Bengal.

The license has been awarded to Statoil and ConocoPhillips, each with a 50% equity share and with Statoil as the operator.

Block AD-10 cover more than 9,000 km2, and is located 200 km from the coast in water depths of approx. 2,000 meters.

The award represents a new country entry for Statoil.

“We have been following the development in Myanmar closely since 2011. Through several visits we have established a good relationship with the authorities in Myanmar, and we have had a continuous dialogue with Norwegian authorities and drawn upon experience from other Norwegian companies present in the country. We look forward to contributing to the further development of the energy sector in Myanmar with our competence and capacity,” said Erling Vågnes, senior vice president for Statoil’s exploration in the Eastern hemisphere.

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