Saigon Asset Management backed firm inks deal for Myanmar offshore block

Visual from Canadian Foresight Group’s website

Cayman Island’s Saigon Asset Management Company, which is based in Ho Chi Minh City, Vietnam, said its investee company, CFG Energy Pte. Ltd, and its partner TRG M15 Pte. Ltd and Century Bright Gold  Co. Ltd, have inked a production sharing contract with Myanmar Oil and Gas Enterprise for shallow offshore block M15.

The Vietnam-focused fund management and investment banking firm said CFG Energy will be able to assess the potential of the shallow water M15 block off Tenasserim Division. The M15 block is located directly adjacent to the south of the Yetagun gas field operated by Malaysia’s Petronas and Thailand’s SET-listed PTT Exploration and Production, which has an estimated 4.9 trillion cubic feet of recoverable gas.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter