Top story from 25 November 2009, Week 47 Issue 202
The Shwe and Zawtika projects offshore Myanmar are expected to produce over 22 million cubic metres per day of natural gas when they come onstream in 2013.
The forecast was made by state-run Myanmar Oil and Gas Enterprise (MOGE), which is a partner in both projects.
Two blocks are located in the Shwe field in the Bay of Bengal, which is being developed by a consortium led by South Korea’s Daewoo International. The Zawtika block, which is on the other side of Myanmar in Gulf of Martaban, is being developed by Thailand’s PTTEP.
The Shwe blocks are estimated to produce just over 14 mcm per day of gas, whilst the Zawtika block is forecast to yield 8.5 mcm per day.
A maximum of 4.5 mcm per day of gas will be kept for use in Myanmar, according to MOGE, with the rest of the production to be sold to China and Thailand.
The production figures were disclosed at an oil and gas forum in Bangkok last week, which brought together the 10 countries of the Association of Southeast Asian Nations (ASEAN).
The Shwe blocks have proven reserves of about 200 billion cubic metres of gas. Most of these have been bought by China.
China National Petroleum Corp. (CNPC) is about to launch construction of a pipeline to move the gas through Myanmar into southwest China’s Yunnan province.
Zawtika is part of the multiple M-9 concession held by PTTEP, where new drills earlier this year yielded promising results.
PTTEP has not given a final overall reserve figure for the M-9 project, but industry reports suggest the concession could hold as much as 50 bcm of gas. The Thai firm has said it might need to invest up to US$1 billion to exploit M-9 fully.
Myanmar’s gas exports earned the country US$1.2 billion in the first five months of the current financial year, which began in April, the Myanmar Times reported last week.
Source: http://www.newsbase.com/newsbasearchive/news.jsp
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