16 Feb Dolphin Geophysical to map Rakhine oil and gas deposits

Written by Mizzima Published in Investment Read 2103 times
Dolphin Geophysical's ship the Polar Marquis during a survey. Photo: Dolphin Geophysical
Dolphin Geophysical's ship the Polar Marquis during a survey. Photo: Dolphin Geophysical

Norway-based geosciences firm Dolphin Geophysical has been awarded and signed a contract for 3D data acquisition and processing of 10,000 square kilometres with London-based Ophir Energy in the Rakhine Basin off the coast of Myanmar, according to a report by OE Digital on February 13.

The work to survey for oil and gas deposits will start in the first quarter of the new financial year with a vessel already located in the region.

Mr Atle Jacobsen, Dolphin’s chief executive officer, said, "This large seismic contract award adds to our backlog of powerful solutions projects, where Dolphin's cost efficient wide tow configuration is the preferred acquisition solution selected by one of our large repeat customers."

Ophir Energy has signed a Production Sharing Contract with the Myanmar’s Energy Ministry which finalised the award of Block AD-03 offshore Myanmar in December.

Ophir has a 95 percent operated interest in the block which is located in the Rakhine Basin. The block is approximately 10,000 square kilometres in size and is on par with the multi-trillion cubic feet producing Shwe gas field.

The company is set to reprocess existing 2D seismic data and acquire 3D seismic data during its initial exploration.