PTTEP Starts Pumping Gas from Myanmar’s Zawtika to Thailand

PTT Exploration and Production Pcl (PTTEP) said its majority-owned Zawtika gas field in Myanmar has started delivering natural gas for use in Thailand.

The gas field is currently ramping up production to a rate of 240 million standard cubic feet per day (MMSCFD), which is the daily contract quantity (DCQ) as stipulated in the Gas Sales Agreement, Thailand’s top oil and gas explorer said in a statement.

The project began delivering natural gas for domestic use in Myanmar since March, at a rate of about 60MMSCFD, PTTEP, which operates seven projects in Myanmar, said.

Thailand uses natural gas for almost 70 percent of its power generation and one-fifth is imported from Myanmar.

The news last week sent PTTEP shares up 2 percent, outperforming a 0.16 percent drop of the overall market as production from Zawtika field will help boost PTTEP’s output in the third quarter, according to Reuters.

PTTEP International Co Ltd (PTTEPI), a subsidiary of PTTEP, is the operator of the Zawtika field and holds an 80 percent participation interest, and the other partner, state-run Myanma Oil and Gas Enterprise (MOGE) holds a 20 percent participation interest.

The Zawtika project is the largest overseas offshore producing gas field operated by PTTEP, the flagship in the upstream exploration business of top energy firm PTT Pcl.

Source: Myanmar BUSINESS TODAY

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”, "Dagon City", “MOGE”, “yangon stock exchange”,"MECTEL", "hydropower", etc.

To learn about the business opportunities in Myanmar click here

To evaluate the various segments of the market that you could possibly enter base on your competencies you can do a Custom Market Entry Strategy Research. You can see a sample report at page "Actual Sample of Client Report”. Click here to go to page.

Do you know that IE Singapore is giving up to SGD 20,000 support for Singapore company to venture into Myanmar? To learn more click here