By OGJ correspondent
BANGKOK, Aug. 12 -- Thailand's PTT Exploration & Production PLC (PTTEP) was awarded a production-sharing contract (PSC) for exploration of Blocks M-3 and M-4 in Myanmar's Gulf of Martaban, about 200-300 km south of Yangon.
PTTEP Pres. Maroot Mrigadat said the blocks, in which PTTEP has a 100% interest, are gas prone, sharing basic characteristics with Yetagun gas-condensate field and Yadana gas field, both of which are producing.
The company is committed to spend $13 million in the first 4 years of the PSC term for geological and geophysical study, seismic surveys, and the drilling of at least one exploration well over the two tracts, which contain a total acreage of 18,000 sq km.
