Myanmar’s Awarded Offshore Blocks
| BLOCKS | SELECTED CANDIDATES |
|---|---|
| Shallow Water Blocks | |
| A4 | Woodside & BG Group |
| A5 | Chevron |
| A7 | Woodside & BG Group |
| M-4 | Oil India & Mercator Petroleum &Oilmax Energy |
| M7 | ROC Oil & Tap Oil |
| M-8 | Berlanda Holding |
| M-15 | Canadian Foresight Group PTE & Transcontinental Group & Local Partner |
| M-17 | Reliance Industries |
| M-18 | Reliance Industries |
| YEB | Oil India & Mercator Petroleum &Oilmax Energy |
| Deep Water Blocks | |
| AD-2 | Woodside & BG Group |
| AD-3 | Ophir Energy |
| AD-5 | Woodside & BG Group |
| AD-9 | Shell |
| AD-10 | Statoil & ConocoPhillips |
| AD-11 | Shell |
| MD-2 | ENI |
| MD-4 | ENI |
| MD-5 | Shell |
| YWB | Total |
CFG participated in Myanmar’s Nov. 2013 offshore bidding round along with Transcontinental Resource Group (TRG) and Myanmar’s KMA Group.
Under the terms of the bidding agreement, TRG will be carried through the seismic program after which it needs to elect to participate for a 10% interest or convert to a 0.33% GOR. KMA will receive a10% carried interest through the exploration program.
CFG was awarded Shallow Offshore Block M-15 on March 2014. Under the terms of joint bid, CFG will undertake a seismic program and drill two wells.
M-15 Offshore Block
M-15 Block Description
- Block M-15 is located in the Andaman Sea, within the Tanintharyi Offshore basin, which is off Myanmar’s southern Tanintharyi coast.
- The area of block M-15 covers 13,480 square km. Estimated P50 Recoverable 16.1 TCF.
- One of the biggest offshore gas fields in Myanmar, Yetagun gas field, is located 60 km to the north of M-15. The Yetagun field contains an estimated 4.2 TCF of recoverable gas. Daily production is about 400 MMSCFD with 12,000 bbl/day condensate.
- According to regional magnetic information, M-15 is located at the Transgression/regression channel area from Eocene to Miocene age. Both Clastic and Carbonate reservoirs are prospective targets within this block.
- One well, M15-B1, was drilled in January 2005. The well was drilled to 3,440 ft and abandoned. An evaluation of the data by in-house geologist has led to the determination that the well was drilled too shallow.
- Approximately 1,753 km of 2D-seismic has been acquired. Previous geophysical and geological work had identified several prospects with potential from 1 TCF to 5 TCF gas and indicate significant structural and stratigraphic traps. Additional 2D and 3D seismic work are required to identify the most promising closures.
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