PTTEP contracts Myanmar-Burma petroleum concessions

BANGKOK, Jan 5 –Thailand’s state-owned PTT Exploration and Production (PTTEP) on Thursday signed an agreement with Myanma Oil and Gas Enterprise (MOGE) for an investment in Myanmar’s Zawtika M9 gas field.

PTTEP president and chief executive Anon Sirisaengtaksin said petroleum and natural gas production will start in 2013 with a production capacity of 300 million cubic feet/day, with 240 million cubic feet to be distributed to Thailand daily. MOGE holds a 20 per cent stake in the investment, he said.

Granted rights by Myanmar, PTTEP will also begin exploring the country’s two onshore oil blocks, EP2 and G, on Wednesday.

The Thai company is investing in neighbouring Myanmar to build ties between the nations and to secure energy for Thailand.

Mr Anon said PTTEP expects petroleum sales to rise to 290,000 barrels/day this year, an increase of 8 per cent. Petroleum sales volume were 265,000 barrels/day in 2011.

PTTEP current main production centre in the Greater Bongkot South project in the Gulf of Thailand will begin production in March at 300 million cubic feet/day, and its Australian Montara field will resume in either Q2 or Q3 at 30,000 barrels/day.

The firm began producing oil in the Vietnam 16-1 Project in Sept 2011, with full production capacity beginning this year at 30,000 barrels/day.

The company’s investment strategies include collaboration with the PTT Group in petroleum exploration and with partners such as Statoil to seek investment opportunities in the United States, South America and Africa, whereas the Browse LNG project in Western Australia and other investment sources in Thailand and Asian countries such as Malaysia also have PTTEP’s interest.

This year’s investment total was set at Bt150 billion, said Mr Anon, out of which Bt100 billion is for construction, Bt20 billion for drilling and exploration, and Bt30 billion for management.

PTTEP’s five-year investment plan reached a total of Bt600 billion, with Bt350 billion earmarked for construction. The company aims to produce oil at 900,000 barrels/day in 2020. (MCOT online news)

Burma: INDONESIAN contractor Gunanusa wins Yadana contract

28.12.2011 Cilegon-based fabricator, Gunanusa has won a contract worth $99 million from France’s Total for a replacement living quarters structure to be installed at the Yadana gas complex off Burma.

The contract is for the fabrication, hook-up and commissioning of the living quarters topsides and a jacket to replace the existing structure, which is understood to be sinking off Burma.

Delivery from the yard is scheduled to take place in phases through the first quarter of 2014.

Separate bids were invited for the transportation and installation, which is understood to have been scheduled for two seasonal windows during the second quarters of 2013 and 2014.

The Yadana production complex comprises two wellhead platforms, a production platform, a living quarters platform and a manifold compression platform. Commercial production began in early 2000, with output averaging 760 million cubic feet per day in 2007.

http://www.upstreamonline.com/hardcopy/article295772.ece?

TWINZA OIL FACES CALL TO LEAVE BURMA

A high profile Perth businessman who has investment links to a company owned by Burma’s military regime is facing calls to withdraw his company from the troubled nation.

William (Bill) Clough’s oil and gas exploration company Twinza Oil is thought to have invested up to $40 million in its Burmese operations, the largest single investment from an Australian company, according to academics.

Advocacy group Burma Campaign Australia and Australian Greens senator Scott Ludlam have called for Twinza Oil to liquidate its assets and withdraw from Burma immediately amid fresh reports of ethnic border killings instigated by the Burmese military regime.

“Australian companies must abandon trade deals with Burma’s military,” Senator Ludlam said.

The senator said hefty oil and gas revenues from companies such as Twinza helped fund the Burmese military regime.

“The Burmese government are keeping those troops equipped, fed and in the field with oil and gas revenues,” he said.

“It’s got to stop.”

Burma Campaign Australia and Senator Ludlam have appealed to Mr Clough, who is also a director and shareholder of publicly-listed company Mirabela Nickel, to cease the Burma operations.

Twinza had been operating in Burma since November 2006, when it signed a joint venture contract with state-owned Myanmar Oil and Gas Enterprise to explore for oil and gas, according to articles in Burmese publication the Myanmar Times and Australian Embassy cables revealed by Wikileaks. Continue reading “TWINZA OIL FACES CALL TO LEAVE BURMA”

Burma has invited bids for companies to operate 18 onshore oil blocks scattered in six provinces on a production-sharing contract basis,

15 July 2011 07:58

Bidders are allowed to submit up to three proposals for three onshore blocks, the Ministry of Energy said in an announcement in the official English daily, New Light of Myanmar, Reuters reported.

Proposals should be submitted by 3 August.

Burma has been exploring oil and gas in 49 onshore sites and 26 offshore blocks in Rakhine, Tanintharyi and Mon states after entering joint ventures with foreign companies since 1988.

The country’s proven gas reserves tripled in the past decade to around 800 billion cubic metres, equivalent to more than a quarter of Australia’s, according to the BP Statistical Review. Proven oil reserves data are not immediately available.

Neighbouring Thailand and China are the biggest investors in Burma’s energy sector.

Companies from Australia, Britain, Canada, Indonesia, India, Malaysia, Russia, South Korea and Vietnam have also reached energy deals with the government.

Reuters reported official data showed total foreign direct investment in the oil and gas sector had amounted to $13.5 billion since 1988.

newswires

Aung Thinkha-2 well results show promising gas output

Chiang Mai (Mizzima) – A gas and oil well, the Aung Thinkha-2, located in Mon State in Burma could produce 25.8 million cubic feet of natural gas and 154 barrels of crude oil a day, a state-run newspaper reported on Thursday.

The estimates are based on a test trial of the oil well in Mottama offshore Block M-3 conducted at the rig on Monday, according to the New Light of Myanmar.

PTT Exploration and Production (PTTEP) Public Company Limited of Thailand and Burma’s Ministry of Energy signed a production sharing contract for Block M-3 and M-4 in 2004. Block M-4 drilling work has been completed since May 1.

PTTEP has also invested in Block M-3, M-7 and M-11. The Zawtika natural gas project is scheduled to start in 2013.

Signing of Gas Sales Agreement for Blocks M9 and a part of Block M11 by PTTEP

Signing of Gas Sales Agreement for Blocks M9 and a part of Block M11
29 Jul 10
PTTEP No. 20.910/195/2010

Finance Dept.
Tel.0-2537-4512, 0-2537-4611

July 29, 2010

President
The Stock Exchange of Thailand
62 Ratchadapisek Road, Klongtoey
Bangkok 10110

Dear Sir,

Subject:  Signing of Gas Sales Agreement for Blocks M9 and a part of Block M11

Reference is made to PTTEP International Limited (PTTEPI), a 100% owned subsidiary of PTT Exploration and Production Public Company Limited (PTTEP), an operator and sole shareholder of blocks M9 and M11, located in the Gulf of Mataban, the Union of Myanmar.

PTTEP wishes to announce that on July 30, 2010, PTTEPI and Myanmar Oil and Gas Enterprise (the sellers) will sign the Gas Sales Agreement (GSA) with PTT Public Company Limited (the buyer). The key issues under the GSA are in accordance with the Heads of Agreement, reported to the Stock Exchange of Thailand in the letter of PTTEP no. 20.910/087/2008 dated June 23, 2008, under which total sales volume of gas from M9 and a part of Block M11 will be 300 million cubic feet per day (MMSCFD) (240 MMSCFD exported to Thailand and 60 MMSCFD supplied to the Union of Myanmar), The project is expected to start up its production in 2013.

This is another major achievement of PTTEP to expand production base in order to secure long term energy supply for the nation.

Yours sincerely,

Anon Sirisaengtaksin

Anon Sirisaengtaksin
President and Chief Executive Officer

Petronas and UNOG win PSCs for Myanmar’s deep-sea blocks

25-01-10 Malaysia’s Petronas Carigali Overseas and Singapore’s UNOG have signed production sharing contracts (PSCs) for deep-sea Blocks MD-4, MD-5 & MD-6, which are located in the Gulf of Martaban, south of Yangon, Myanmar’s main city and former capital.
Some 25 offshore blocks are under exploration offshore Myanmar. Twelve blocks are located in the Gulf of Martaban, six off the Tanintharyi coast and seven off the Rakhine coast.
Source: http://www.energy-pedia.com

Burma win for Petronas and UNOG

Malaysia’s Petronas Carigali and Singapore’s UNOG have signed production sharing contracts covering three blocks off Burma, according to reports.
News wires Monday, 25 January, 2010, 00:16 GMT
Officials from the Malaysian and Singaporean companies and state-owned Myanmar Oil & Gas Enterprise signed the agreements in the new capital Naypyitaw, on exploration and production in blocks MD-4, MD-5 and MD-6, Reuters quoted official papers as saying.

The news agency said the documents did not give further details.

Blocks MD-4, MD-5 and MD-6 are deep-water blocks in the Gulf of Martaban, south of Rangoon, Burma’s main city and former capital.

Interra Reports Completion Of YNG 3234 Well In Myanmar

Published: 21-Jan-2010
Interra Resources (Interra) has said that its jointly controlled entity Goldpetrol, has completed the drilling of YNG 3234 in the Yenangyaung oil field in Myanmar as an oil producer.
Interra has a 60% interest in the improved petroleum recovery contract of the Yenangyaung oil field and also owns 60% of Goldpetrol, which is the operator of the field. YNG 3234 was drilled using Goldpetrol’s cooper LTO 350 rig and as such, drilling costs have been minimized, the company said.
YNG 3234 is producing through perforations in five lower sand objectives at rate of 68 barrels oil per day. This well is a continuation of Goldpetrol’s focus on drilling shallow to intermediate depth wells and optimized reactivations of old wells that have been identified from geologic and reservoir engineering studies.
——————————-Interra Resources Updates On MS-1 Well In Mae Sot Basin, Western Thailand
Published: 11-Dec-2009
Interra Resources Limited (Interra Resources), a Singapore-based company engaged in upstream petroleum exploration and production, has provided an update on its MS-1 well in the Mae Sot basin of Western Thailand.
As previously reported Interra Resources’ wholly owned subsidiary, Interra Resources (Thailand) Limited (IRT), has a 50% interest in Block L17/48 (totalling 3,996 square kilometres) where the drill site is located.
IRT is the operator of record with the Thailand Department of Mineral Fuels (DMF) and as such, is responsible for all current drilling activities and any future project work in the exploration block. IRT also has a 50% interest and is the operator of two other exploration blocks, namely Blocks L3/48 and L9/48 (totalling 5,915 square kilometres).
MS-1 has been drilled to a total depth of 5,770 feet as of December 7, 2009 and after careful review, it has been determined that enough data has been collected to warrant making the decision to cease drilling. Although some zones of hydrocarbon source rocks were encountered in the borehole, the desired reservoir rocks required for hydrocarbon accumulations were not intercepted.
As such, there were no hydrocarbon shows recorded in the well, or other encouraging data which would allow the well to be completed as a hydrocarbon producing well. The well has therefore been plugged and abandoned.
IRT commenced this project with the realization that this was a true high risk/high reward wildcat, based on this being the first well in the basin and with the nearest producing well approximately 125 kilometres to the east and in a different geologic basin.
A further comprehensive evaluation of collected borehole data and all previously obtained geologic and geophysical will commence immediately to determine the effects and implications of this well on future work plans for this block (also Blocks L3/48 and L9/48).