Wednesday, 08 February 2012 14:44 Mizzima News
The company said Burma “is our core market for exploration and production in Southeast Asia,” in an article in The Bangkok Post on Wednesday.
In mid-January, PTT Plc, Thailand’s largest energy company, said it was studying whether to invest in a power plant in the Dawei industrial zone in southern Burma.
A unit of PTT Plc, the oil exploration/production wing was last month awarded licences for the PSC-G and EP2 onshore petroleum blocks which cover a combined area of 13,000-square kilometres.
PTTEP is already developing the huge M9 gas block in the Gulf of Martaban, with production of 300 million cubic feet per day expected by the end of next year. Of that amount, 80 per cent will be exported to Thailand and the rest consumed domestically, the newspaper said.
The company is also proceeding with a US$ 2-billion plan to develop a gas-production facility and a 300-kilometre gas pipeline in the Gulf of Martaban. PTTEP is funding 80 per cent of that venture and the state-owned Myanmar Oil and Gas Enterprise the rest, according to earlier statements.
Chief executive Anon Sirisaengtaksin said PTTEP continues to evaluate the gulf's M3 gas block offshore from Rangoon to determine if it is commercially viable. PTTEP already has interests in the the Yadana, Yetakun and Zawtika blocks.
Meanwhile, Thai companies are leading the huge energy production project in Dawei to build a port and an economic zone, including pipelines to transport energy to Thailand.
There are 47 oil and natural gas production blocks in inland Burma. China, which is extracting oil and gas in 23 of the 47 inland blocks, is the largest investor; Malaysia is the second largest.
There is only one Burmese oil company, Myanmar Petroleum Resources Limited, which is owned by Michael Moe Myint. The Htoo Company owned by businessmen Tay Za and Nay Aung, who is the son of former Industry No. 1 Minister Aung Thaung, are shareholders in foreign oil and gas companies, according to sources close to the Ministry of Energy.
Currently, Burma’s inland blocks are producing more than 9,300 crude oil barrels a day and more than 100 million cubic feet of natural gas a day. The Yadana and Yetagun offshore natural gas blocks are producing more than 1 billion cubic feet of natural gas a day.
According statements by the Ministry of Energy, there are a total of 0.46 trillion cubic feet of natural gas in the inland area in Burma and 17 trillion cubic feet in offshore blocks.
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