ONGC, GAIL discovers huge gas field off Myanmar
From The Ecomonic Times, India
June 16, 2006
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Oil and Natural Gas Corp and state gas utility GAIL (India) Ltd has found a huge gas field in Block A-3, offshore Myanmar.
The Mya-1 discovery in Block A-3, where ONGC's overseas arm, ONGC Videsh Ltd, has 20 per cent stake and GAIL 10 per cent interest, flowed about 57.6 million cubic feet of gas per day during testing, industry officials said.
South Korea's Daewoo International is the operator of Block A-3, which lies adjacent to Block A-1 where 4 to 6 trillion cubic feet (Tcf) of gas reserves were previously found. OVL and GAIL together hold 30 per cent interest in A-1.
Daewoo, which holds 60 per cent stake in both A-1 and A-3 blocks, had hit a 32-metre gas column with the Mya-1 find, which some officials placing in-place reserves at about 2 Tcf.
Korea Gas Corp (KOGAS) has the remaining 10 per cent interest in the two blocks.
Sources said Mya-1 discovery could be another giant gas find to add to the success at the Shwe and Shwe Phyu fields in adjacent Block A-1.
Recoverable reserves at the Shwe field have been independently certified at between 2.88 Tcf and 3.56 Tcf of gas, while sources earlier said Shwe Phyu could deliver as much as 5 Tcf of gas.
India and China are both courting Myanmar to be allowed to import Daewoo's discovered gas.
Pipeline exports to either country or neighbouring Thailand remain as development options, as do liquefied natural gas and compressed natural gas projects.
A decision on how best to exploit the A-1 and A-3 gas will be taken after completion of the current drilling campaign, sources added.