Exploratory oil well starts work in Myanaung

Drilling of an exploratory well – Shwesitaw Well No 1 in IOR 7 Block in Myanaung, Hinthada District, Ayeyarwady, has started on November 4.

Based on 3D seismic survey data, oil and gas prospects were found in the block which Shwesitaw Well No 1 will explore.

The target depth of the well is 2450 metres.

The exploration of the block is joint operation by Petronas Carigali Myanmar Inc, the local arm of Malaysia’s national oil and gas company; Myanmar’s United National Oil and Gas Trading Co Ltd; and Petroleum Brunei Myanmar (PBMA) after a contract for oil and gas exploration and development in IOR-7 Vlock was signed in September 16, 2014.

Within the block, Myanma Oil and Gas Enterprise (MOGE) discovered the Shwepyitha oil field in 1967 and a total of 70 wells have been drilled.

About 4 million barrels of oil and 92 billion cubic feet of gas have been so far produced from Shwepyitha oil field.

The ceremony to begin drilling of Shwesitaw Well No 1 was attended by U Win Khaing, Minister for Electricity and Energy, dignitaries from the Ayeyarwady regional government and partner firms.

In September, a 40 metre column of gas was discovered at a depth of 4,820m at the Shwe Yee Htun-2 appraisal well in the A-6 gas block in southern Rakhine. The Shwe Yee Htun-2 discovery adds to the Shwe Yee Htun-1 and Pyi Thit-1 discoveries made in 2016 and 2017.

Of the 1.7 billion cubic feet of natural gas it produces daily, Myanmar exports around 1.5 billion cubic feet, according to the MOGE.

Myanmar will start inviting international tenders for exploration and production at up to 31 new oil and gas fields in the first half of next year.

Source: Myanmar Times

To see the original article click link here

NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, "Puma Energy", “MOGE”, “yangon new town”,"MECTEL", "hydropower", etc.