India's Reliance Signs PSCs for Two Myanmar Offshore Blocks

India’s Reliance Industries Ltd (RIL) and state owned Myanma Oil & Gas Enterprise (MOGE) have signed production sharing contracts for two offshore blocks (M17 and M18).

RIL won both the offshore blocks after its bids in Myanmar Offshore Block Bidding Round – 2013 were declared successful by Myanmar’s Ministry of Energy (MOE), Reliance said in a statement Tuesday.

RIL will be the operator of the blocks with a 96 per cent participating interest. United National Resources Development Services Co. Ltd. (UNRD), a Myanmar company, will hold the remaining interest in the block.

Both the blocks are located offshore in the Tanintharyi basin of Myanmar in water depths upto 3000 ft. and spread over an area of 27,600 sq. kms.