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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 […]

PTTEP investment budget of $3,256 mln for 2019 includes Zawtika project, exploration

The PTT Exploration and Production Public Company Limited (PTTEP) has announced a five-year investment plan (2019-2023) to add value to legacy assets through exploration and production (E&P) activities and to support investment opportunities in areas rich in petroleum to sustain the company’s long-term growth. Phongsthorn Thavisin, PTTEP Chief Executive Officer, said the company has set […]

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 […]

State-owned Thai oil company unit to invest more in Myanmar

BANGKOK — Thailand’s PTT Exploration and Production, a subsidiary of Thailand’s national oil and gas conglomerate PTT, plans to greatly expand its investment in Myanmar. The company aims to join a new round of bidding for oil and gas exploration rights, due to open by the end of this year, in hopes of cashing in […]

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 […]

Natural gas export earnings decrease by over US$35million

Natural gas export earnings as of the end of May this FY hit over US$230million, a decrease of over US$35 million from the same point last year, according to the Commerce Ministry. Natural gas exports accounted for 45 per cent of the country’s total export earnings, followed by the garment sector with 17 per cent. […]

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 […]