Written by Admin on July 8, 2013. Posted in Business, News, Top Stories
Myanma Oil and Gas Enterprise and its partner PTTEPI of Thailand have spotted a new oil and natural gas deposit in Mottama offshore oil block, the state-run Myanma Alinn reported.
In the first exploration on March 26, 2011, the two companies found the deposit with the capacity of 25.14 million cubic tons of natural gas per day.
In the second-phase exploration on February 3 2013, they dug 4.38 cubic feet of natural gas and 20 barrels of oil for test. The last exploration followed on May 10.
The energy ministry is exploring new oil and gas deposits through cooperation with international partners.
The exploration site was visited by energy minister Than Htay and Yangon region chief minister Myint Swe on Friday.
Myanmar has set a new energy policy that pay more attention to local demands after year.
As the country has opened up, it becomes a latest frontier for multinational oil and gas corporations.
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Source: http://www.news.myanmaronlinecentre.com/2013/07/09/myanmar-finds-new-energy-deposit/
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