MPRL E&P Awards Seismic Survey Contract to Polarcus (Myanmar)

February 12, 2013

Polarcus UK Ltd, has secured a contract from MPRL E&P Pte Ltd for a 3D seismic survey offshore Myanmar.

The survey, which will be conducted the MV Adira, will cover 1,720 km 2 in water depths from 1,600 to 2,000 m.

The some 40-day 3D survey is due to start during the last week of this month. MV Adira will deploy 12 solid steerable streamers, 7 km long in continuous recording down to 9 sec twoway-time. Polarcus will apply their latest technology to minimize time spent in filling in acquisition gaps. This new 3D survey is to be merged with the adjacent 3D cube acquired by MPRL E&P in 2010 after both surveys incur 3D Pre-Stack Depth Migration (PSDM) processing.

MPRL E&P, now operating Block A-6 with partner Woodside Energy (Myanmar) Pte Ltd (“Woodside”), has also obtained from Myanmar Oil & Gas Enterprise a one-year extension to the PSC Initial Exploration Period until 8 June 2014. This will allow the Joint Venture enough time to assess whether the size of potential prospects warrants exploration drilling in subsequent Exploration Extension Periods.

[mappress]
February 12, 2013