Woodside’s offer was for a 40% stake in the PSC for Block AD-7 in the Rakhine basin, in the western offshore area of Burma. Daewoo will remain the operator of the block.
The farm-in agreement will involve carrying out a 3D seismic acquisition programme during 2013 and 2014, as well as the option to drill an exploration well in a subsequent exploration period.
Woodside
