PTTEP to invest in new Myanmar gas fields next year

Piya Sukhum-Panumet, general manager of PTTEP Myanmar Asset. Shin Moe Myint/The Myanmar Times With fresh oil and gas reserves at Myanmar’s offshore blocks now approved for commercial activities, the Ministry of Energy and Electricity (MOEE) will invite international tenders for up to 31 oil and gas exploration fields in early 2019.  The last round of..

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Better oil and gas deals needed in the future, say experts

Efforts must be taken to lessen Myanma Oil and Gas Enterprise’s (MOGE) tax burden from contracts signed with joint-venture firms to work offshore oil and gas fields, a report states. According to the “State-Owned Economic Enterprise Reform in Myanmar: The Case of Natural Resource Enterprises” report by  the Natural Resource Governance Institute (NRGI) and Renaissance Institute,..

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Gas pipeline at Zawtika to be replaced

An offshore platform at Zawtika, Moattama Gulf. Photo – Supplied 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..

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Higher US interest rates, oil prices crimping economy

US Federal Reserve Board Chairman Jerome Powell. Photo – EPA Higher US interest rates and global oil prices are putting pressure on Myanmar’s economy. The US Federal Reserve Bank has raised interest rates three times so far this year. The latest increase of a quarter percentage point in the benchmark federal funds rate, lifting it..

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Fifth gas discovery in Myanmar offshore Block A-6

A deepwater offshore oil rig and accompanying support vessel. Photo – EPA Appraisal well Shwe Yee Htun-2 has been successfully drilled with formation evaluation results indicating a gas column and net pay thickness that substantially exceeds prior expectations, according to MRPL E&P. The domestic oil and gas firm said this equates to a track record..

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Gas-fired plant in Kyaukse to be built

The signing ceremony takes place in July. Photo – Supplied A 145-megawatts natural gas-fired power plant will be built in Kyaukse of Mandalay Region, according to the Ministry of Electricity and Energy. The gas-fired power plant will be implemented within Baelin 230 kV substation by Powergen Kyaukse Company Limited. 18MW gas engines for the power plant, purchased from..

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