Indonesian company signs PSC in Myanmar

Jul 29, 1997 02:00 AM

July 15, 1997 One more Indonesian company has agreed to explore and produce oil and natural gas at three onshore blocks in Myanmar's Magway division. Under a production sharing contract signed between the PT Exspan Sumatra Oil Company of Indonesia and state-run Myanmar Oil and Gas Enterprise (MOGE), the Indonesian company is to conduct the exploration and production at blocks in Ohndwe, Kyaukkyi-Mindon and Padaukpin-Monnatkon areas. Late last year, another Indonesian company, the APN Petroleum Ltd., signed a contract with the MOGE to carry out oil and gas exploration and production in Chauk and Yenangyoung, two onshore areas in central Myanmar.
One of Myanmar's onshore gas fields, the Aphyauk gas field in Taikkyi area in central part of the country, has been supplying natural gas to Yangon, Pyay and areas in southern part of the country for power generation and industrial use. Meanwhile, a pipeline has also been laid to bring natural gas from another newly developed onshore oil field -- the Kyaukkhwet -- to Kyuanchaung and Chauk areas in Myanmar's Magway division.
According to official sources, Myanmar has signed more than 20 production sharing contracts with oil companies from nearly 10 countries including Australia, Britain, France, Indonesia, Japan, Malaysia, Thailand and the United States to explore oil and natural gas in seven onshore and five offshore areas in the country. The latest official statistics also show that foreign investment in Myanmar's oil and gas sector had exceeded $ 2.13 billion in 34 permitted projects by June 1997.

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