fbpx

MOEE to drill for natural gas in Magwe


A test oil well will be drilled in Myaing township, Magwe Region to determine the presence of oil or gas, U Nyan Tun, deputy managing director from Myanmar Oil and Gas Enterprise (MOGE) , said during the Ministry of Energy and Electricity’s (MOEE) month press conference yesterday.

It will be the first time a test well is drilled in the area. “Drilling will start on January 26,” U Nyan Tun said.

The Myaing deep oil test well No.1 is located at the south of the Myaing Anticline in the Chindwin sedimentary basin. Exploration will be conducted to determine the presence of oil or gas at the middle of the anticline.

“According to expert analysis, there is a high possibility that either oil or gas can be found. If oil or gas is found, we will proceed to production,” MOEE deputy permanent secretary U Htay Aung told The Myanmar Times.

It is estimated that the oil well may produce about 3 million cubic feet of natural gas per day. “According to the geology contours we have received, it is estimated that the well could contain around 82 billion cubic feet of recoverable reserves,” the MOEE said in a statement.

If the test well is successful, plans to drill another 11 oil wells will be carried out. Locals will be compensated for any farmlands affected as a result of the drilling, said U Nyan Tun.

No decision has been made on where and how the natural gas, if discovered and produced, will be utilised. “We will decide depending on the amount and type of gas. It is too early to say where this gas will be used,” U Nyan Tun said.

Source: Myanmar Times

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.

.

Looking for foreign investors to invest in your business in Myanmar