Offshore block ‘viable’

Offshore block 'viable'

By Aung Shin   |   Sunday, 11 August 2013

Commercial production at offshore block M3 is slated to begin as early as 2018, according to a high-ranking official at the Ministry of Energy.

Thai energy firm PTTEP has been exploring the block since 2011, with tests indicating it is commercially viable, said the official who requested anonymity because he is not authorised to speak to the media.

"PTTEP is presently conductingdetailed exploration," he said, adding the engineering, procurement, commissioning, installation and construction phase would take four to five years to complete. "Commercial production at the M3 field will begin at 2018 at the earliest."PTTEP is the sole operator of the block, but Myanma Oil and Gas Enterprise will take a 20-25 percent stake of the field when commercial production goes ahead.

PTTEP has invested in six projects in the Moattma offshoreregion, four of which are at the appraisal stage. PTTEP did not respond to requests for comment. Gas from block M3 will be for domestic use.Some 12 firms are working on offshore blocks, with three projects in production.

Yadana and Yetagun in Moattma are producing natural gas for export to Thailand, and Shwe gas offshorefrom Rakhine State began exporting to China at the end of last month.

Source: http://www.news.myanmaronlinecentre.com/2013/08/16/offshore-block-viable/