Tap Oil to Explore for Gas in Myanmar

Australia’s Tap Oil Limited will explore for natural gas in Myanmar’s shallow water Block M-7 in the Moattama Basin.

On Wednesday, Tap Energy (M7) Pte. Ltd, and its local joint venture participant, Smart E&P International Company Ltd., signed a Production Sharing Contract with Myanmar Oil and Gas Enterprise (MOGE) at an official ceremony in Nay Pyi Taw.

Under the PSC, the JV partners have agreed to undertake an 18 month Environmental and Social Impact Assessment (ESIA) and Study Period, followed by an option to proceed to a three-year commitment exploration work programme.

Tap expects to spend approximately $2.75 million on the M-7 Block up to and including the Study Period, which has a minimum expenditure requirement of $2 million.

The 13,372km2 M-7 Block is located in Myanmar’s most prolific offshore hydrocarbon province, the Moattama Basin, which has existing production from a number of multi-tcf offshore fields. Block M-7 is 160km east of the 6.5tcf Yadana gas field, and 70km north east of the 1.5tcf Zawtika gas field.