CAOG Sarl to begin energy production

Luxembourg-based CAOG Sarl and local partner Apex Geo Services have signed a production sharing contract with state-owned Myanma Oil and Gas Enterprise for oil exploration at the MOGE4 onshore block in Irrawaddy Division, awarded in October 2013. The contract requires that the companies perform environmental and social impact assessments and cooperate with the regional government for local development. MOGE will receive a US$2 million signing bonus for the agreement.