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PTTEP to raise investments in Myanmar offshore projects to maintain gas production

Since 2014, a total of 345 million cubic feet of natural gas for daily domestic consumption and export to Thailand is channeled from the offshore Zawtika Project in the Gulf of Moattama to the Zawtika Operation Center (ZOC) in Kanpauk Township, Tanintharyi, said Mr Piya Sukhumpanumet, general manager of PTTEP Myanmar Assets. Natural gas, which […]

Govt coffers held back by SOEs: EITI

A representative of the Extractive Industries Transparency Initiative (EITI) said Myanmar’s government fails to understand the severity of how the so-called Other Accounts of state enterprises are holding back the country’s development. EITI will be organising a workshop on reforming state-owned enterprises (SOEs) engaging in this sector will be held mid-February, according to EITI trilateral […]

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 […]

Gas pipeline at Zawtika to be replaced

The replacement of a gas pipeline at the Zawtika project, offshore of Myanmar, will be conducted to reliably supply gas to Myanmar, said Mr. Piya Sukhumpanumet, general manager of PTTEP Myanmar Asset. Mr Piya was speaking to journalists during a media tour to Zawtika, located in block M-9 of the Moattama Gulf, Tanintharyi Region on […]

Exploratory oil well starts work in Myanaung

Drilling of an exploratory well – Shwesitaw Well No 1 in IOR 7 Block in Myanaung, Hinthada District, Ayeyarwady, has started on November 4. Based on 3D seismic survey data, oil and gas prospects were found in the block which Shwesitaw Well No 1 will explore. The target depth of the well is 2450 metres. […]

Myanmar faces energy crossroads

Myanmar’s government has announced new oil and gas tender plans just as green shoots are being sighted in Southeast Asian upstream investment. But the country’s private sector has said tough fiscal measures must be carefully revised to entice international energy investment. The Ministry of Electricity and Energy plans to offer 18 onshore and 13 offshore […]

Shrouded in secrecy, SOE profits are not financing country’s development

Reallocation of excess savings from Myanmar Gems Enterprise (MGE) and Myanma Oil and Gas Enterprise (MOGE) alone could provide more than K2.8 trillion in available financing for the government’s budget in the fiscal year starting from October, on top of covering expenses of the two state-owned enterprises. The government has lost more than US$2 billion […]

Oil and gas responsible for half of Myanmar’s debt

While being the highest generator of revenue for the country, the oil and gas industry is also responsible for accepting half of the loans taken by the country, said Daw Moe Moe Tun, civil society representative of the Extractive Industries Transparency Initiative (EITI) during the release of its report on Myanmar. “The contribution of revenue […]

Over the last year, Myanmar’s energy sector stumbles in right direction

Home to one of the world’s oldest oil and gas industries, oil exploration in Myanmar began in the early Bagan era. During the reign of King Anawrahta in the Bagan Era, evidence shows that the Buddha’s Three Teachings were coated with oil to prevent damage. With the nationalisation of the oil industry in 1963, the […]

PTTEP to start exploring two offshore blocks next year

Myeik—Thailand-based PTT Exploration and Production Public Co Ltd (PTTEP) will start exploration work in the M9 and M11 offshore blocks in the Gulf of Martaban next year. The blocks are located 250 kilometres from Dawei and 270 kilometres from Myeik, respectively. The company held a public meeting to explain the upcoming exploration work on August […]