Woodside secures Burma permits

On the eve of its self-imposed deadline to finalise a company-defining farm-in into the Leviathan gas field off Israel, Woodside Petroleum appears to have had success on another frontier.

Reports out of Rangoon last night said that Woodside, in partnership with British giant BG Group, has been awarded several offshore blocks in Burma's latest round of exploration permit auctions.

Details of Woodside and BG's financial commitment to secure the shallow water blocks A-4 and A-7, as well as the deepwater permits AD-2 and AD-5, are not known.

BG has confirmed it has picked up acreage off Burma but Woodside is yet to make a similar announcement.

The new permits would add to Woodside's fledgling position in Burma, where it opened an office in Rangoon in January.

Woodside surprised investors in 2012 when it announced it had farmed into two permits off Burma held by South Korea's Daewoo.

Today marks the deadline Woodside set to settle its long-running attempt to secure a 25 per cent slice of the massive Leviathan gas field in the eastern Mediterranean.

However, there remains uncertainty about the tax regime associated with Leviathan's development and whether it will force Woodside to extend the deadline.

On the eve of its self-imposed deadline to finalise a company-defining farm-in into the Leviathan gas field off Israel, Woodside Petroleum appears to have had success in another frontier area.

Reports out of Rangoon last night state that Woodside, in partnership with British giant BG Group, has been awarded several offshore blocks in Burma's latest round of exploration permit auctions.

Details of Woodside and BG's financial commitment to secure the shallow water blocks A-4 and A-7 as well as the deepwater permits AD-2 and AD-5 remain unknown.

BG has confirmed it has picked up acreage off Burma but Woodside is yet to make a similar announcement.

The new permits would add to Woodside's fledgling position in Burma - it opened an office in Rangoon in January - and its interest in the gas-prospective waters off the coast of the South-East Asian country, which for decades had been out of bounds for western companies because of sanctions against the erstwhile military regime.

Woodside surprised investors in 2012 when it announced it had farmed into two permits off Burma held by South Korea's Daewoo.

Others to pick up permits in the latest Burmese acreage release are thought to include a consortium of Tap Oil and Roc Oil, Chevron, Eni and Royal Dutch Shell.

Today marks the deadline Woodside set to settle its long-running attempt to secure a 25 per cent slice of the massive Leviathan gas field in the eastern Mediterranean.

However, there remains uncertainty about the tax regime associated with Leviathan's development and whether it will force Woodside to extend the deadline.

The West Australian

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