MOGE signs sharing contracts

Burma’s state-owned Myanma Oil and Gas Enterprise (MOGE) has signed a contract permitting the sharing of selected offshore Arakan and Tenasserim coastal areas with two private companies. The deal was agreed by the Burmese Ministry of Energy, and signed by MOGE, Shell Myanmar Energy and Mitsui Oil Exploration Group on 5 February. MOGE will receive over US$61 million in the deal. The companies are projected to spend at least US$1.215 million over an observation period of two years and an exploration period of six years in three areas.