print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases  Bashneft REGISTER LOG IN

Press Releases > Bashneft  all about the company

company search
all press releases
all Bashneft press releases

Bashneft

August 11, 2014

Bashneft signs PSC for Block ÅÐ-4 in Myanmar

Yesterday in Naypyitaw, Myanmar, Bashneft International B.v. , a wholly owned subsidiary of JSOC Bashneft, signed a Production Sharing Contract (PSC) for oil Block ÅÐ-4 with Myanmar Oil and Gas Enterprise (MOGE). The signing bonus will total US$ 4 million. Bashneft International B.v. is the operator of the project, holding a 90% stake, while Sun Apex Holdings Ltd from Myanmar holds the remaining 10%.
Under the PSC for Block ÅÐ-4, the partners shall implement a three-year geological exploration programme, which may be extended for another three-year period and includes seismic surveys and drilling of two exploration wells. Investments in the geological exploration programme shall total US$ 38.3 million.
Block EP-4 with the area of 841 sq. km is located in the Central Burma Basin. 2D seismic surveys covering 132 linear kilometres have been conducted at the site, and three prospecting wells have been drilled, which have uncovered six promising oil-bearing formations. Block EP-4 is located in an area with well-developed oil and gas transportation and processing infrastructure.
Bashneft gained the right to conclude the Production Sharing Contract for Block ÅÐ-4 in October 2013, when it won the Onshore Blocks Second Bidding Round conducted by the Ministry of Energy of the Republic of the Union of Myanmar.

 

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G H I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer