Three Offshore Blocks in Myanmar Explored

Monday, February 27, 2006
Three more available blocks off Myanmar's southern Tanintharyi coast are under natural gas exploration with test wells being planned for drilling by Malaysia 's Petronas Company. A geophysical site survey at blocks M-16, M-17 and M-18, with areas ranging from about 13,000 square-kilometers (sq-km) to 14, 000 sq-km, has begun this week and the survey will last over a month until late March. Recent years have seen foreign oil companies increase engagement in oil and gas exploration in Myanmar. Thailand's PTTEP, for example, has covered a number of blocks including M-3, M-4, M- 7, M-9 and M-11 under contracts. Besides, a consortium comprising South Korea's Daewoo International, South Korea Gas Corporation, the ONGC Videsh Ltd of India and the Gas Authority of India has also been engaged in gas exploration at block A-1 off Myanmar's western Rakhine coast since 2000. In early 2004, huge natural gas deposit, estimated to yield up to 14 trillion cubic feet (396.2 billion cubic-meters) of gas, was found at the block. Myanmar is planning to sell gas produced from the area to India or China and negotiations are underway to reach formal agreements. Since Myanmar opened its oil and gas sector to foreign investment in 1988, oil companies from a dozen of countries have stepped in. Outstanding investment in the area include the Yadana gas field project in the gulf of Mottama and the Yetagun off the Tanintharyi coast. With three large offshore and 19 onshore oil and gas fields, Myanmar possesses a total of 87 trillion cubic-feet (TCF) or 2.46 trillion cubic-meters (TCM) of gas reserve and 3.2 billion barrels of recoverable crude oil reserve. The figures show that in the fiscal year of 2004-05 which ended in March, Myanmar produced 7.48 million barrels of crude oil and 10.69 billion cubic meters (BCM) of gas. Gas export during the year went to 9.5 BCM, earning over $1 billion. (Source: Xinhua)
Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Wagenbourg New Crane for Oil, Gas, Energy Sector

Wagenborg Nedlift has expanded her crane fleet with a brand new 700 tonnes mobile crane. With this crane the fleet is significantly strengthened. Equipped with

Study: An Arctic Oil Well Blowout Could Spread More Than 1,000km

Oil from a spill or oil well blowout in the Arctic waters of Canada's Beaufort Sea could easily become trapped in sea ice and potentially spread more than 1,000 kilometres to the west coast of Alaska,

Westermeerwind Wind Farm Construction Begins

Mammoet announced today that Westermeerwind BV has reached financial close on July 25 for the turnkey construction of the Westermeerwind wind farm in Ijsselmeer,

Coast Guard

USCG Change of Command in Galveston

A Coast Guard lieutenant commander and graduate of Hastings High School in Houston, took command of Maritime Safety and Security Team Galveston during a ceremony in Galveston Thursday.

Cause of S.Korea Ferry Businessman's Death Remains Unknown

Yoo's body too badly decomposed to determine cause of death; mystery surrounding final days of de-factor owner of doomed ferry deepens. Yoo's son arrested in latest capture of family members.

USCG Leadership Development Center Change of Command

The Coast Guard’s Leadership Develop Center will have its first change of command ceremony Thursday, July 31 at 11 a.m. in front of Yeaton Hall at the U.S. Coast Guard Academy in New London, Conn.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Pipelines Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1356 sec (7 req/sec)