Petronas exit Yetagun gas project by selling to Gulf Petroleum Myanmar

Petronas, the existing operator of the Yetagun gas project has handed the project over to Gulf Petroleum Myanmar (GPM), Petronas is the exiting operator of the Yetagun gas project, under a partnership with PTTEP and the ENEOS consolidated subsidiary, Nippon Oil Exploration (Myanmar). Other investors in Nippon Oil are the Japanese Government and Mitsubishi Corporation. […]

Malaysian operator and Thai partner pull out of Myanmar’s Yetagun field

Malaysia’s state-owned oil and gas company Petronas and Thailand’s national player PTTEP have both decided to withdraw from the Yetagun field located offshore Myanmar. Petronas’ subsidiaries, Petronas Carigali Myanmar Inc (PCMI) and PC Myanmar (Hong Kong) Limited (PCML), on Friday announced their withdrawal from Blocks M12, M13, and M14 located in the Yetagun field. The […]

Production levels at Myanmar’s Yetagun gas field declining fast

Malaysian oil and gas company Petronas has started reducing the number of workers at the Yetagun offshore gas field in Myanmar since the first week of September, an employee of the company said. The employee, who spoke on condition of anonymity, said the number of workers at the field will also be reduced in December […]

Better oil and gas deals needed in the future, say experts

Efforts must be taken to lessen Myanma Oil and Gas Enterprise’s (MOGE) tax burden from contracts signed with joint-venture firms to work offshore oil and gas fields, a report states. According to the “State-Owned Economic Enterprise Reform in Myanmar: The Case of Natural Resource Enterprises” report by the Natural Resource Governance Institute (NRGI) and Renaissance […]

PTT’s Expansion Plans Will Benefit Myanmar’s Natural Gas And LNG Sector

Myanmar’s energy sector will benefit from PTT’s overseas expansion strategy, as the state-owned looks to diversify away from the mature and saturated Thailand market. PTT’s focus will be on natural gas, demand for which is expected to expand at a robust rate in Myanmar, alongside shifting government power policy. PTT investment will improve domestic gas […]

Better Gas Technology, Infrastructure Crucial to Solving Power Problem

Myanmar, one of the fastest growing economies in the world, is nevertheless notorious for its insufficient supply of power. Despite several State and regional Master Plans and programs, just one third – or 3.7 million out of the 10 million households in the country – enjoys access to electricity. Meanwhile, the government’s losses, accumulated on […]

Thailand’s PTT poised to gain from Myanmar deal

THAI and Myanmar officials will sign a memorandum of agreement at a meeting of Asean energy ministers next month that will take energy giant PTT a step closer towards a major gas project across the border. The singing of the agreement will pave the way for PTT to conduct a study on a Bt20 billion […]

Myanmar govt expected to earn Ks 1.8 trillion from natural resources this year

State-owned enterprises extracting natural resources are expected to earn over Ks 1.8 trillion during the 2017-2018 fiscal year, according to this year’s budget statement. Those enterprises are the Myanmar Oil and Gas Enterprise, the No 1 Mine Industry, the No 2 Mine Industry and the Myanmar Gems Enterprise. Between April 2017and March 2018, the Myanmar […]

MOGE ventures into onshore services

Myanma Oil and Gas Enterprise (MOGE), a state-owned company responsible for the upstream oil and gas sector under the Ministry of Electricity and Energy of the Republic of the Union of Myanmar, plans to establish three joint ventures with international service companies by 2H 2017. The partnerships will focus on onshore seismic acquisition services, onshore […]

Energy dilemma

Myanmar needs oil and gas revenue to spur its economy and new discoveries to feed its growing energy appetite, but low oil prices could bring cutbacks in exploration. Myanmar is bracing for a rougher ride after a few years of giddy economic expansion as foreign direct investment slows amid falling oil prices and global uncertainty. […]