Energy Sector - Myanmar and India signed profit sharing contracts ************************************************************************************* Myanmar Oil and gas Enterprise of the Ministry of Energy, India Oil Ltd., Mercator Petroleum Ltd., and Oilmax Energy Company Ltd., singed profit sharing contracts on Mottama off-shore area (M-4) and Taninthayi off-shore area (YEB) at Park Royal Hotel in Nay Pyi Taw, Thursday. Union Minister for Energy U Zeya Aung extended greetings. The managing Director of Myanmar Oil and gas Enterprise and officials from Oil India Ltd, Oilmax Energy Company Ltd., Mercator Petroleum Ltd., and Oil Star Management Service Co., Ltd., signed the contracts and exchanged the documents. This signing ceremony is to call tender for Mottama and Taninthayi off-shore areas for the first time. The 6M USD signature bonus and 20,000USD data fees will get in accord with the contracts. At least 120.9 M USD will be spent for the 1-year survey and 6-year searching periods for these two plots.
Posted on: Fri, 05 Dec 2014 04:41:05 +0000
Trending Topics
Recently Viewed Topics
© 2015