Chevron and Ophir Energy have agreed on a deal by which Ophir will acquire 42% interest in Block A-5, located in offshore Rakhine Basin. The transaction, subject to government approval, was reported by Ophir on 7 March 2018. The transfer may include operatorship as well. Ophir indicated that the first half of 2018 will be critical for the company to decide whether to proceed with drilling on its Myanmar acreage, which now includes block A-5 in addition to block AD-03. The study period for block A-5 has been extended by one and a half year, from 27 September 2017 until 27 March 2019. Chevron acquired approximately 4,900 sq km of 3D seismic data in the block between late 2015 and early 2016, covering areas from shelf to deep water. Upon approval of the deal, Chevron will reduce its interest from 99% to 57% (via subsidiary Unocal Myanmar). Royal Marine Engineering Co. (RME), a Myanmar company, holds the remaining 1% interest. Chevron and RME signed a PSC for the block with Myanmar Oil & Gas Enterprise (MOGE) on 24 March 2015. The block was offered as part of the 2013 Myanmar offshore bid round.
Myanmar (Rakhine B.) (It's a petroleum rights. Please summarize by yourself). In IHS database: Block A-5 op. by CVX (99.0%, RME 1.0%) to be check.