News Release Details
Deora's Myanmar visit to enhance bilateral cooperation
New Delhi 23-Sep-2007
Petroleum minister Murli Deora is all set to leave for a two-day visit to Myanmar on Sunday. The minister will meet his counterpart, Myanmar's energy minister brigadier general Lun Thi, to discuss possibilities of enhancing bilateral cooperation in hydrocarbon sector. Deora will also attend the signing of production sharing contracts CPSC for three deep-water exploration blocks between ONGC Videsh Limited (OVL) and Myanmar Oil and Gas Enterprise (MOGE), a Myanmar government enterprise. OVL succeeded in acquiring 100% participating interests in these 3 deep-water blocks AD-2, AD-3 and AD -9 in Myanmar offshore. The aerial extents of the blocks are 8,100 sq km, 9,900 sq km and 7,800 sq km, respectively. Water depth in the block areas ranges from 1,500 m up to 3,000 m off the Rakhine coast of Myanmar. According to a petroleum ministry release, prior to acquiring these three blocks, oil PSUs OVL and GAIL have participated in exploration activities in A-l and A-3 blocks in Myanmar. In block A-l OVL and GAIL has 20% and 10% participating interests, respectively. Gas, discovered in 2004 and 2005, fn3m Shwe and Shwe Phyu in block A-l, is estimated at3.34 and 0.5 tcf, respectively. In block A-3, OVL and GAIL have participating interests of 20% and 10%, respectively. The consortium has established a gas reserve of 1.52 tcf in the block A-3 Mya Gas field. The total recoverable reserves of gasfromA-1 and A-3 blocks are estimated to be about 4 tcf. Attempts are being made to acquire other oil and gas assets in Myanmar. Currently, Myanmar's total oil and gas production is about 10,000 barrel oil per day (bopd) and 820 million standard cubic feet per day (mmscfd), respectively.
New Delhi 23-Sep-2007
Petroleum minister Murli Deora is all set to leave for a two-day visit to Myanmar on Sunday. The minister will meet his counterpart, Myanmar's energy minister brigadier general Lun Thi, to discuss possibilities of enhancing bilateral cooperation in hydrocarbon sector. Deora will also attend the signing of production sharing contracts CPSC for three deep-water exploration blocks between ONGC Videsh Limited (OVL) and Myanmar Oil and Gas Enterprise (MOGE), a Myanmar government enterprise. OVL succeeded in acquiring 100% participating interests in these 3 deep-water blocks AD-2, AD-3 and AD -9 in Myanmar offshore. The aerial extents of the blocks are 8,100 sq km, 9,900 sq km and 7,800 sq km, respectively. Water depth in the block areas ranges from 1,500 m up to 3,000 m off the Rakhine coast of Myanmar. According to a petroleum ministry release, prior to acquiring these three blocks, oil PSUs OVL and GAIL have participated in exploration activities in A-l and A-3 blocks in Myanmar. In block A-l OVL and GAIL has 20% and 10% participating interests, respectively. Gas, discovered in 2004 and 2005, fn3m Shwe and Shwe Phyu in block A-l, is estimated at3.34 and 0.5 tcf, respectively. In block A-3, OVL and GAIL have participating interests of 20% and 10%, respectively. The consortium has established a gas reserve of 1.52 tcf in the block A-3 Mya Gas field. The total recoverable reserves of gasfromA-1 and A-3 blocks are estimated to be about 4 tcf. Attempts are being made to acquire other oil and gas assets in Myanmar. Currently, Myanmar's total oil and gas production is about 10,000 barrel oil per day (bopd) and 820 million standard cubic feet per day (mmscfd), respectively.