General Announcement::Announcement

Issuer & Securities

Issuer/ Manager
MERCATOR LIMITED
Securities
MERCATOR US$16M4.75%CB190527 - XS1072432161 - 3R0B
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
08-Dec-2014 18:20:02
Status
New
Announcement Sub Title
Announcement
Announcement Reference
SG141208OTHRPQHD
Submitted By (Co./ Ind. Name)
Amruta Sant
Designation
Company Secretary
Effective Date and Time of the event
08/12/2014 17:00:00
Description (Please provide a detailed description of the event in the box below)
This refers to our letter no. ML:DD:JL:909 dated 31st March 2014 informing that our subsidiary, Mercator Petroleum Ltd., in consortium with Oil India Ltd., and Others chosen as the selected candidate by the Ministry of Energy of the Republic of the Union of Myanmar, for two shallow water offshore oil blocks, in the Myanmar Offshore Block Bidding Round-2013.
Mercator Petroleum Limited in consortium with Oil India Limited, OilMax Energy Private Limited and Oil Star Management Service Co., Ltd has entered into the Production Sharing Contract (PSC) with Myanma Oil & Gas Enterprise (National Oil Company of Myanmar) for Block M-4 (Moattama Offshore Area) and Block YEB (Tanintharyi Offshore Area) offshore Myanmar. Both the blocks are in shallow waters with a vast area wherein Block M-4 covers approx. 10380 KMs and Block YEB covers approx. 21297 KMs.
Oil India Limited (a Govt. of India undertaking) is the designated operator of both these blocks. Mercator Petroleum Limited has 25% participating interest in both the blocks.
Myanmar is the second largest nation in South-East Asia with huge unexplored and untapped hydrocarbon basins with a large captive market. Myanmar offshore falls in the emerging petroleum provinces in the Bay of Bengal. Mercator Petroleum Ltd in consortium with Oil India Ltd, OilMax Energy Private Ltd and Oil Star Management Service Co. Ltd, participated in recently concluded bidding round of several offshore blocks in Myanmar which saw a huge interest from energy giants such as BG, Total, Shell, ENI, Chevron, Statoil, ConocoPhillips ONGC, Reliance etc.

Attachments

SGX_Intimation_08.12.2014.pdf
Total size =60K