Daewoo gets report on Rakhine gas finds

By OGJ editors
HOUSTON, Aug. 21 -- Independent consultants said 4.8 tcf is the best estimate of recoverable gas from three discoveries in the Rakhine basin off Northwest Myanmar by a group led by Daewoo International Corp., Seoul.

The appraised 2004 Shwe and 2005 Shwe Phyu discoveries on Block A-1 and the 2006 Mya discovery on Block A-3 to be appraised with two wells in 2007 are the basin's first substantial gas discoveries (see map, OGJ, Mar. 8, 2004, p. 39). Two more prospects are identified on A-3, Daewoo said, and one or two exploratory wells will be drilled in the forthcoming campaign.

Best estimates by Gaffney, Cline & Associates are for Shwe field 2.9 tcf recoverable from 3.4 tcf in place, Shwe Phyu .4 tcf recoverable from .5 tcf in place, and Mya 1.5 tcf recoverable from 1.8 tcf in place. High estimates of recoverable gas are Shwe 4.7 tcf, Shwe Phyu .9 tcf, and Mya 3 tcf.

The Mya-1 well cut a 32-m gas column and flowed 57.6 MMcfd of gas on test (OGJ Online, June 23, 2006).

Interests in the two blocks are Daewoo International, operator, 60%, ONGC Videsh Ltd., 20%, and GAIL (India) Ltd. and Korea Gas Corp., 10% each.

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