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Goldpetrol Signs Chauk & Yenangyaung Field IPRCs

Source: www.gulfoilandgas.com 9/15/2017, Location: Asia

Interra Resources Limited (Interra) is pleased to announce that further to the announcement dated 10 August 2017, its joint venture entity, Goldpetrol Joint Operating Company Inc. (Goldpetrol) has signed the supplemental agreements with the Myanma Oil and Gas Enterprise (MOGE) on 15 September 2017 for the 11-year extension of the Improved Petroleum Recovery Contracts (IPRCs) for the Chauk field and the Yenangyaung field, both of which are situated in Myanmar.

Interra has a 60% interest in each of the IPRCs for the Chauk and Yenangyaung fields, and also owns 60% of Goldpetrol, which is the operator of both the Chauk and Yenangyaung fields. Following the extension of the two IPRCs, the Company will conduct an update on its reserves and resources for both the Chauk and Yenangyaung fields accordingly.

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