Eni flies to Myanmar and signs two Production Sharing Contracts (PSC), for the installation of two onshore blocks, respectively RFS-5 and PSC-K. The former is 1.292 square kilometers in size, located 500km north of Yangon, while the latter will be established in the Pegu Yoma-Sittaung area, covering an area of more than 6.000 square kilometers.
The joint venture, in which Eni Myanmar has a clear majority shareholder at 90%, accompanied by 10% of Myanmar Production and Exploration Company ltd, consecrates the presence in South-East Asia of the Italian energy company which already has its plants in China, Indonesia, Vietnam and East Timor.
The contracts stipulated today in Nay Pyi Taw in the presence of the Myanmar Energy Minister, are valid for six years, divided into three different exploration periods.
