Three offshore gas fields see low demand from partner countries

THREE of Myanmar’s four offshore gas fields have attracted low demand for natural gas from partner countries, according to Electric Power and Energy Ministry. The Zawtika Project, the country’s largest offshore gas field has proven to be the exception. The low demand has been linked to the fall in crude oil prices in the world […]

UPA signs B10bn Dawei power plant deal

United Power of Asia Plc. (UPA) has signed a power purchase agreement (PPA) with Myanmar’s state utility to develop a gas-fired power plant in the Dawei special economic zone at a cost of 10 billion baht, says the company’s chairman Upakit Pachariyangkun. The signing ceremony was held on Monday to mark the start of investment […]

Yadana Gas field launches new wells to boost production

The Yadana Gas project has begun drilling more wells in its offshore M-5 and M-6 blocks to keep its level of high production on track until 2020. Union Minister for Energy U Zeya Aung visited the field yesterday, where he assisted with the launch of the new wells. The Yadana Gas project is a joint-venture […]

Despite capacity constraints, oil & gas industry still promising

Win Khaing, a member of National Energy Management Committee and chairman of United Engineering Co Ltd, said the industry itself brings a lot of opportunities for foreign investors to do business in the newly-opened nation. “Probable and possible uncontracted gas would amount to 4,000 MMCFD over 30 years. It definitely indicates the level of optimism […]

PTTEP to invest $3.3b in oil and gas projects

State-owned Thai oil firm PTT Exploration and Production Plc (PTTEP) will spend US$3.3 billion over the next five years to develop gas projects throughout Myanmar, company executives announced last week. The firm, one of Thailand’s largest, currently has funds in seven oil and gas projects in the country and plans in part to use its […]

Ministry to sign MoU for Dawei power plant

The Ministry of Energy has approved plans by the Admin Power & Utility Ltd. to build a 500-MW natural gas power plant in Dawei. The ministry will allow the company to purchase natural gas to build a 50-MW power plant to provide power for regional security as a first phase. “The ministry and the company […]

150 local companies registered to do oil and gas business with foreign firms

Over 150 Myanmar companies, including Shwe Taung, Edin and IGE, Kanbawza, A-1, Tarmoenye Chantha, have been registered in the Ministry of Energy to cooperate with foreign firms that will invest in the oil and natural gas sector, according to the Ministry. The Ministry of Energy offered tenders 18 inland blocks of oil and gas in […]

Thailand PTTEP assures transparency in Myanmar investments

PTT Exploration and Production Plc (PTTEP) have given assurances that its five-year US$3 billion investment on oil exploration in Myanmar will be transparent. Tevin Vongvanich, PTTEP president and chief executive, said the US$3 billion allocation would be part of the company’s US$25 billion investment to produce 600,000 barrels of oil in 2020. The major portion […]