Myanmar has awarded nine offshore blocks to a host of international operators following lengthy negotiations, with domestic state players also having stakes in the Production Sharing Contracts (PSCs). Italy’s Eni signed two PSCs for Blocks MD-2 and MD-4. Eni will operate the blocks with an 80% stake in each PSC, while state-owned PetroVietnam E&P holds 20%. Block MD-2 is located in the southern part of the Bay of Bengal in the Rakhine Basin, around 135km from the coast, west of the Yadana field. The block covers an area of 10,330sq km and lies in water depths ranging from 500-2,400m (1,641-7,874ft).
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