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 confirms its commitment to Myanmar oil and gas

PTTEP reaffirmed its commitment to the development and growth of Myanmar’s oil and gas industry at the Offshore Technology Conference Asia 2018 this week. Despite the exploration and development challenges in Myanmar’s oil and gas sector, opportunities for successful discovery and production can be captured with the effective use of innovation and people, said Mr. […]

PTTEP’s net profit jumps 60% from recovered oil prices & effective operation & cost management

PTT Exploration and Production Public Company Limited (PTTEP) reported 2017’s net profit at USD 594 million (equivalent to THB 20,579 million), soaring by more than 60% despite the impairment recognition of USD 558 million from the development plan adjustment in the Mariana Oil Sands project. Earnings Before Intereset, Taxes, Depreciation and Amortization (EBITDA) margin maintained […]

Mon State Expects Fresh FDI Next Year

Mon State attracted foreign direct investments (FDI) totaling $5.9 billion between 1994 and 2017, according to the Mon State Directorate of Investment and Company. While no new foreign investors have come to Mon since the present government took over during the 2016-17 fiscal year, the local government expects things to improve in the coming year. […]

Deepwater Myanmar could create long-term growth

Deepwater E&P activity offshore Myanmar might pick up, argues Clarksons Research, which could create opportunities for vessel owners, despite a cabotage market in the country. Clarksons said that recent deepwater gas discoveries offshore Myanmar have bolstered the confidence of oil companies sufficiently for them to start planning deepwater drilling campaigns, in spite of weaker energy […]

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 […]

Thailand’s Largest Oil and Gas Firm Plans New Asia Investment

Thailand’s largest oil and gas explorer PTT Exploration and Production Pcl (PT­TEP) is planning new in­vestments or an extension of its operations in fields in Thailand, Malaysia and Myanmar, it said last Tuesday. In Thailand, state-owned PTTEP would bid to extend its concession to operate the Bongkot gas field beyond the exist­ing expiry date of […]

Myanmar Offshore Supply Base Debacle or Miracle in Waiting?

In a recent briefing regarding the development of an offshore supply base conducted by Asia Pacific Connex, there was much enthusiastic debate around the provision of this key infrastructure. Particular emphasis was placed on the need to improve local content in the Myanmar offshore gas developments and to create a framework to harness offshore development […]

Offshore Gas Project Awards EPCI Deal in Myanmar

Indonesian platform builder PT Gunanusa Utama Fabricators (PTG) has been awarded a second contract from Thailand’s PTTEP for Zawtika project offshore Myanmar. The initial contract, awarded in September, comprised engineering, procurement, construction and installation (EPCI) of two offshore wellhead platforms, associated pipelines and tie-ins for Phase 1C of the Zawtika Development Project. “The aggregate value […]

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. […]