Oman Oil farms into PTTEP's Block M9 off Myanmar

By an OGJ correspondent
BANGKOK, Aug. 15 -- Thailand's PTT Exploration & Production PLC (PTTEP) has agreed to farm out a 5% stake in its natural gas-prone Block M9 off Myanmar to Oman Oil Co.

PTTEP also is seeking other joint venture partners to reduce capital costs of $1 billion as it revs up to produce gas from the tract in the Gulf of Martaban, said PTTEP Pres. Maroot Mrigadat.

Myanmar will be provided with a 20% interest in Block M9 gas production, which is expected to start at 300 MMcfd in 2011 or 2012. About 210 MMcfd of this production will be transported to Thailand, and 90 MMcfd will be used domestically.

Maroot said many firms are interested in joining the Block M9 gas production venture, but PTTEP prefers those with asset-swap deals.

PTTEP plans to drill four more exploration and appraisal wells between December 2007 and April 2008 in an area other than the Zawtika and Kakonna structures where gas was discovered (OGJ Online, June 25, 2007).

Work is under way to estimate reserves in existing structures where exploration has been completed; initial estimates put those reserves at 1.5 tcf.

Related Articles

MMS chief hopes next president, Congress won't reinstate OCS bans

12/19/2008 US Minerals Management Service Director Randall B. Luthi said on Dec. 9 that he hopes the Obama administration and Congress seriously consider expa...

FERC issues final EIS for proposed LNG project near Baltimore

12/19/2008 The Federal Energy Regulatory Commission's staff identified additional adverse environmental impacts as it issued a final environmental impact stat...

Gran Tierra defers Colombian pipeline project

12/17/2008 Gran Tierra Energy Inc., Calgary, has deferred a 100-km pipeline project in Colombia connecting Costayaco field to the Orito gathering facilities.

Petrobras gets loan for Revap refinery upgrades

12/14/2008 Brazil's Petrobras has borrowed ¥750 billion from a consortium of Japanese banks to finance its investments in the 226,000-b/d Henrique Lage (R...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!


Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected