Interest in Myanmar's upstream sector has surged as diplomatic relations with the West have improved. An offshore licensing round held in 2013 saw the entry of majors and IOCs with proven deepwater players such as BG (since acquired by Shell) Woodside and Shell leading the way. Many of the blocks awarded lie across the boundary between the Bengal Delta Sub basin and the neighbouring Arakan Basin in a region also known as the Rakhine Sub basin. We exclude the volume potential of the Arakan Basin from this report though the economics of the deepwater sector can be considered analogous.The high profile Woodside operated Shwe Yee Htun well which is due to be spud in Q4 2015 is targeting gas is a play opening opportunity and a key well to watch in 2015.The Pliocene Deepwater play has significant undiscovered potential and is one of the most keenly watched frontier plays worldwide. However the petroleum system is largely unproven and exploration risk is high.