Myanmar Earns US$1.8 B from Natural Gas Export

A natural gas project in offshore area (Photo-MOEE)

Myanmar earned over US$1.8 billion from natural gas export from October 1 to March 27 in this fiscal year and it is more US$18 million in comparison with the same period in the last fiscal year, according to the Ministry of Commerce.

Myanma Oil and Gas Enterprise (MOGE) under the Ministry of Electricity and Energy (MOEE) produced 3.32 million of barrels of crude oil and over 623,000 million of cubic feet of natural gas from 86 offshore and onshore oil and gas blocks within the third year of this government term, according to a press conference on achievements in the third year in office the MOEE held at the Ministry of Information at Nay Pyi Taw on May 9, 2019.

The MOGE has been able to explore to 23 wells within a year onshore and joint venture companies 17 wells, totaling 49 wells. The wells drilled in the third year period produced 2.31 million barrels of crude oil and 19,019 million cubic feet of natural gas.

Moreover, international companies explored 46 wells offshore and produced 1.02 million of oil and 604,818 million of cubic feet of natural gas.

The MOGE produced 3.2 million barrels of crude oil and 623,838 million cubic feet of natural gas from offshore and inshore.

The ministry is planning to invite tender for 18 vacant inshore oil and natural gas blocks and 15 vacant offshore oil and natural gas blocks soon.

According to Rakhine Investment Opportunity Survey, the 18 vacant inshore oil and natural gas blocks are PSC- C2, PSC-J, PSC-M, PSC-S, PSC-T, PSC-U, PSC-V, RSF-2, RSF-3, RSF-4, RSF-7, RSF-10, IOR-2, IOR-3, IOR-4, MOGE-6, MOGE-7, and MOGE-8. The 15 vacant offshore oil and natural gas blocks are A-2, AD-4, AD-10, AD-12, AD-13, AD-14, AD-15, AD-16, M-1, M-10, M-16, MD-1, MD-3, MD-6, and MD-8.

Myanmar has a total of 104 oil and natural gas blocks: 53 inshore oil and natural gas blocks and 51 offshore oil and natural gas blocks, according to the MOEE.

At present, the ministry had agreements to develop A-6 offshore oil and natural gas blocks and is expected to supply natural gas from the end of 2023. It already made exploration and survey processes for the block and is reached to the pre-front-end engineering design (pre-FEED) process.