Bashneft Inks Myanmar PSA

摘要

Russia’s Bashneft has signed a production sharing agreement (PSA) to develop an onshore block in Myanmar. The news is one of the few positive events in recent weeks for Bashneft, which has come under mysterious corporate attacks and is trying to protect itself from a hostile takeover. Bashneft said on Aug. 11 that its subsidiary, Bashneft International, and state Myanmar Oil&Gas Enterprise signed a PSA to develop Block EP-4, which covers some 841 sq km in Central Burma Basin, in line with earlier plans announced last October. Bashneft would pay a $4 million signature bonus.