options
Daewoo to drill Rakhine gas source :World Oil The Daewoo International of South Korea is planning to start drilling natural gas from a huge offshore gas field near Sittway in Myanmar's western Rakhine state by November next year, the local Myanmar Times reported today. The Rakhine gas field, estimated to have a gas reserve of about 13.4 trillion to 47.3 trillion cubic-feet (TCF) (379.2 billion to 1,338.5 billion cubic-meters), possesses the potential to be larger than Myanmar's two other major gas fields in production -- Yadana and Yetagun, the DI was quoted as saying. The Yadana in the gulf of Mottama and the Yetagun off Tanintharyii coast are reported to have 6.7 TCF (189.61 billion cubic-meters) and 3.2 TCF (90.56 billion cubic- meters) of gas respectively. The DI signed a production sharing contract on the exploration project with the Myanmar Ministry of Energy in August 2000 and it assigned 10-percent share to another South Korean company, KOGAS, in November 2001. According to official statistics, since Myanmar opened to foreign investment in late 1988, contracted investment in the oil and gas sector has so far reached 2.563 billion dollars. The investment includes those under 34 contracts in exploring oil and gas at 47 inland blocks and 15 joint venture contracts with the state-run Myanma Oil and Gas Enterprise under the ministry in the same undertaking at 25 offshore blocks at Mottama, Tanintharyi and Rakhine coastal areas.
Burmatoday do not take any responsibility for news content. Copyrights of news articles remain with the respective news agencies or reporter[s].
©2001-2003 Burma Today All Right Reserved Graphic Design : burmatoday2002@yahoo.com
