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Myanmar oil, gas sector attracts more foreign involvement in '06

by Michael last modified 2006-12-15 05:36

YANGON, Dec. 14 (Xinhua): With the development in oil and natural gas sector, Myanmar has attracted foreign involvement in oil and gas exploration in the country from as many as six countries' oil companies in a single year of 2006 which represent

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Thailand, Malaysia, Russia, Australia, India and Singapore.

The involvement of Thailand's PTTEP in two more blocks-M- 7 and M-9 in the Mottama offshore areas early this year under contract has brought the total number of blocks which the Thai company involved to five with other blocks known as M-3, M-4 and M- 11.

Meanwhile, the PTTEP announced in August the discovery of a new gas source at the Zatila-1 well in the Mottama offshore block M-9 with a significant amount being estimated.

Besides, Malaysian company, the Petronas, also planned oil and gas exploration at three more available blocks M-16, M-17 and M-18 off Myanmar's southern Tanintharyi coast in addition to M- 15.

This year was signified by the involvement for the first time of an oil company from Russia in cooperation with Myanmar and India to explore oil and natural gas at a block lying off the Mottama offshore area.

Under a production sharing contract initiated in September by the JSC Zarubezhneft Itera Oil and Gas Company of Russia, the Sun Group of India and the state-run Myanmar Oil and Gas Enterprise (MOGE), the three companies will carry out the undertaking at block M-8 in the offshore area.

Moreover, an Australian company also reached a contract in November with the MOGE to conduct oil and gas exploration and production in the country's Yetagun gas field (east block) off the southern Tanintharyi coast.

With gas reserve estimated at 3.946 trillion cubic feet (TCF) or 111.738 billion cubic-meters (BCM) and a sale reserve of 2.437 TCF, the Yetagun gas field project has already involved PTTEP ( Thailand), Petronas (Malaysia), Nippon (Japan) and MOGE (Myanmar), of which the Petronas possesses the largest share with 56.66 per cent, while Myanmar's state-run Oil and Gas Enterprise 15 per cent, PTTEP of Thailand and Nippon of Japan 14.17 per cent each.

In the latest development, The GAIL of India and the Silver Wave Energy of Singapore signed a production sharing contract with Myanmar this month to explore oil and natural gas at Block A-7 in offshore area of Myanmar's western Rakhine state.


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