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. […]

Myanmar oil and gas: optimism amid oversupplies and low prices

Despite growing calls for amending their production-sharing contracts in light of plunging oil prices, oil and gas companies operating in Myanmar are still optimistic, as gas was recently discovered in Block A-6. Xavier Preel, general manager of Total E&P Myanmar – one of the three operators of the block – said yesterday that it is […]

Deepwater rigs to come to Myanmar

Deepwater production is perhaps the most complicated method of petroleum extraction – and one with which Myanmar has little experience. While there are currently four offshore platforms in the country’s waters – Yetagun, Yadana, Shwe and Zawtika – all are considered to be shallow-water projects. Yet Myanmar auctioned off the rights to explore and eventually […]

Gas Brings $1 Billion to State Coffers

Over $1 billion was earned from exporting gas from four gas fields as of the first week of July in 2015-16 fiscal year, according to the Ministry of Commerce. “Most gas export goes to Thailand which is a regular buyer of our gas. We have started exporting to China some time ago,” said U Win […]

‘Romantic North’ reserves vital to domestic energy supply

Oil consumption in Myanmar is likely to double by 2025, meaning that new discoveries are essential to meet energy demand for the future without relying too heavily on imports. But some fear the dream of finding large proven reserves may not be realised. The likelihood of finding commercially viable reserves in recently awarded onshore and […]

Thailand’s PTT says Myanmar Gas Fields to Shut for Maintenance in April

BANGKOK, March 5 (Reuters) – Thailand’s sole natural gas supplier PTT PCL said on Thursday that three fields in Myanmar would be shut down for maintenance in April. Thailand uses natural gas to generate nearly 70 percent of its electricity, and about a fifth of its supplies are imported from Myanmar. Two major gas fields, […]

PTTEP earmarks $3.3 bn for Myanmar

Investment budget set till end-2018 as energy giant celebrates 25th year in neighbouring country PTT Exploration and Production (PTTEP) will invest a total of US$3.3 billion (Bt106.4 billion) in Myanmar through to the end of 2018, president and CEO Tevin Vongvanich said after celebrating the listed company’s 25th anniversary of successful operations in the neighbouring […]

PTTEP advances in Myanmar with MOGE award

PTTEP South Asia has signed a production sharing contract (PSC) with Myanma Oil and Gas Enterprise (MOGE) for onshore exploration and production rights of MOGE 3 block “This investment in Myanmar is a significant operational progress in line with PTTEP long term growth direction to explore the high potential areas,” said Tevin Vongvanich, president and […]

MIC approves more firms for onshore oil and gas exploration

The Myanmar Investment Commission has given approval to more than 15 new oil and gas companiesto invest in onshore blocks in Myanmar since July. All have signed production-sharing contractswith the government. The firms include foreign and local companies, and the exploration blocks are located in six states and regions: Mon, Kayin, Taninthayi, Bago, Sagaing and […]

Myanmar Won’t Export New Gas Finds Until Domestic Needs Met, Says Official

New discoveries of natural gas or oil will not be exported until Myanmar’s own domestic demand is satisfied, a senior planner in the Ministry of Energy has disclosed. Confirmation of the decision comes as the ministry is set to name this month the winners of a major international auction for 30 offshore exploration licenses in […]