PTTEP, Myanmar to Sign PSC

Thailand’s PTT Exploration and Production (PTTEP) is expected to sign a PSC with the Myanmar government early next month for oil and gas exploration in two onshore blocks, Bangkok Post reported.

The Thai energy firm was awarded blocks covering 13,000 square kilometres in January. The company currently operates four gas blocks in Myanmar- Yadana and Yetakun- producing 1.1 billion cubic feet per day for Thailand.

M9 or Zawtika, which is being developed at a total expense of $2 billion, is expected to have first production next year with 300 cfd, the newspaper said.

The company is also awaiting the results of proved reserve evaluation in the M3 gas production project after drilling early this year found the potential of natural gas.