Myanmar earns about US$3.5 B from natural gas export

Myanmar earned about US$3.5 billion from natural gas export within 11 months in this fiscal year and earned over US$430 million more in the same period in the last fiscal year, said an official from the Ministry of Commerce.

Myanmar is producing 3.32 million barrels of crude oil and 623 trillion cubic feet of natural gas from 86 oil and gas wells in inshore and offshore oil fields in third year of this government term, according to the ministry.

Myanma Oil and Gas Enterprise and its partner companies explored 40 oil and gas wells in onshore oil fields this year and produced 2.31 million crude barrels and 19.019 trillion cubic feet of natural gas.

Moreover international companies explored 46 oil and gas wells in offshore oil fields and produced 1.02 million oil barrels (condensate) and 604.818 trillion cubic feet of natural gas.

The total production is 3.2 million crude barrels and 623.838 trillion cubic feet of natural gas.

The ministry is planning to invite tender to international companies for 18 inshore oil blocks and 15 offshore oil blocks to increase the production of oil and natural gas.

The 15 offshore oil blocks are A-2, AD-4, AD-10, AD-12, AD-13, AD-14, AD-15, AD-16, M-1, M-10, M-16, MD-1, MD-3, MD-6 and MD-8, according to Rahkine Investment Opportunity Survey.

The 18 inshore oil blocks are PSC-C2, PSC-J, PSC-L, PSC-M, PSC-S, PSC-T, PSC-U, PSC-V, RSF-2, RSF-3, RSF-4, RSF-7, RSF-10, IOR-3, IOR-4, MOGE-6, MOGE-7 and MOGE-8.

Myanmar has a total of 104 oil and gas blocks: 51 in inshore and 53 in offshore, according to the ministry.

Source: Eleven Media Group

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.