There has never been a better time to explore the huge opportunities in Myanmar, as increasingly large gas finds have put Myanmar firmly on the global energy map, while government initiatives aim to open up Myanmar investment.
The implementation of a new foreign investment law (FDI) passed in Myanmar earlier this month has been delayed after President Thein Sein asked parliament to make “some minor investments” to make the law more clearer and more flexible, however the country needs and desires foreign investment.
Western nations earlier this year eased economic sanctions instituted against Myanmar, lifting another barrier to foreign investment.
The Yadana Project
- The Yadana field is Myanmar largest producing gas field. It yields 834 million cubic feet per day
- It is operated by Total. JV partners are Chevron, PTT and MOGE
- It contains more than 150 billion cubic meters of natural gas and has an expected field life of over 30 years
- It accounts for 15-20% of Thailand’s gas consumption
The Yetagun Project
- The Yetagun field is second largest producing gas in the country. It yields 412 million cubic feet per day
- It is current operator is Petronas and JV partners are PTT, Nippon Oil and MOGE
- The Yetagun field came on stream in 2000
The Shwe Project
- Daewoo’s Shwe project is the most controversial project in Myanmar to date
- Shwe is an ambitious project which includes the development of two gas fields, pipeline infrastructure and the South East Asia Oil Pipeline
The gas development
- The Shwe gas development is expected to come on stream in mid 2013 and exports to China are will commence immediately
- It is expected to produce 500 million cubic feet per day, 400 of which will be export to China
- A pipeline with capacity up to 12 billion cubic metres is being built to connect the Shwe project to China
- The pipeline will start near Kyaukphyu, run through Mandalay, Lashio, and Muse in Myanmar before entering China
- CNPC is the largest shareholder in the pipeline company, though is not part of the upstream consortium
These and many other opportunities will be discussed at the Myanmar Upstream Summit. To find out more please contact:
Odiri Umusuoumusu@thecwcgroup.com +44 (0) 20 7978 0083