Woodside to Drill At Least Four Wells Off Myanmar in 2017

Australian energy company Woodside said it is planning to boost its drilling campaign offshore Myanmar with the potential commercial viability of recent gas finds in the area.

Earlier this year, Woodside discovered 32 metres of net gas pay in the Myanmar Block A-6 Shwe Yee Htun-1 exploration well and 62 metres net gas pay in the Block AD-7 Thalin-1A exploration well. The discoveries increased Woodside’s contingent resource (2C) by 83 MMboe.

The company then acquired more than 31,500 square kilometres high quality 3D seismic data in Myanmar, to boost its portfolio of drillable prospects.

“In Myanmar, we made back-to-back discoveries, increasing our contingent resources by 83 million barrels of oil equivalent (boe). Both discoveries are located close to existing infrastructure and markets and we are working through development options with significant appraisal work scheduled for next year,” Woodside CEO, Peter Coleman, said.

According to Woodside’s first half 2016 report, at least four wells will be drilled in the four licences Woodside holds ownership in.

“Processing of the new seismic data is continuing. Seabed coring operations in Blocks A-7 and A-4 were also completed. The high quality seismic data supports our strategy to grow and build a portfolio of material multi-Tcf drillable prospects,” Woodside said.

The company has progressed planning for a 2017 exploration and appraisal drilling program, to speed up options for commercialisation of the gas discoveries.

“Analysis of the exploratory well data confirms the development potential of both discoveries. Planning continues for a minimum of two firm appraisal and two firm exploration wells in 2017,” Woodside said.

Meanwhile, the company continues to focus on the production of liquefied natural gas (LNG).

It is estimated that LNG uptake in transport fuel markets could add 10-20 percent to global LNG demand by 2030, and our plants are adjacent to two of the world’s largest ports by tonnage, the report stated.

“Moving forward, we will add significant production volumes from Wheatstone LNG to our portfolio in mid-2017 and further low-cost production from the Greater Enfield Project in 2019,” Coleman said.


Source: Myanmar Business Today



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