“The summit will serve as a platform
for announcements from key industry officials on developments in the
sector, as well as enable important discussion between investors,
operators and officials alike. We will provide the ideal networking
platform for leading experts to discuss similarities, opportunities and
experiences in developing hydrocarbon potential,” U Than Htay said.
More
than 100 companies are attending the conference, with global
representatives from Europe, North America and Asia. U Than Htay said
the summit will bring together senior government-level officials and
experts in oil and gas exploration, logistics, construction, finance and
legal solutions to successfully collaborate in developing the region’s
potential.
Total, Petronas and Daewoo are currently operating
offshore in Myanmar, U Than Tun, director of offshore exploration for
Myanma Oil and Gas Enterprise (MOGE) said.
U Zaw Aung, the
director of planning at MOGE, said at the conference that the government
plans to open bids for offshore blocks by April.
While foreign
companies will have to partner with local companies to work on
shallow-water blocks and onshore, MOGE has not decided yet whether or
not foreign companies will be able to have a 100pc stake in deep-water
blocks, he said.
The process for onshore bids, he said, will probably not be decided on until November.
The
Yadana gas field is Myanmar’s largest producing gas field. It yields
834 million cubic feet a day and contains more than 150 billion cubic
meters of natural gas; the field has an expected life of over 30 years.
The field accounts for 15 to 20 percent of Thailand’s gas consumption.
Total operates the field as a joint venture with Chevron, PTT and MOGE.
The
Yetagun gas field is the country’s second-largest source of gas
production. Operated by Petronas in a joint venture with PTT, Nippon Oil
and MOGE, the field yields 412 million cubic feet a day.
Daewoo’s
Shwe project, a development plan comprising two gas fields and
intensive oil and gas pipeline infrastructure, is particularly
ambitious, the director of planning at MOGE, U Than Tun said.
U Zaw Aung said the government plans to drill over 300 new wells in the next five years.
source: The Myanmar Times
No comments:
Post a Comment