Gas reservoir yields 1.14 mln cubic meters of natural gas per day in Myanmar
YANGON, Feb. 18 (Xinhua) — A gas reservoir in an offshore block situated in western part of Myanmar was discovered yielding about 1.14 million cubic meters of natural gas per day after drill stem testing, said a release from the Ministry of Electricity and Energy Myanmar on Tuesday. After initial exploratory drilling procedures since November […]
Oil prices slip as coronavirus concerns linger
SINGAPORE: Oil prices slipped on Tuesday on lingering concerns over the economic impact of the coronavirus outbreak in China and its effect on oil demand, tracking losses in financial markets. Brent crude was at $57.30 a barrel, down 37 cents, or 0.6 per cent, by 0126 GMT, while US West Texas Intermediate crude fell 15 cents, or 0.3 per cent, […]
Indonesia’s Pertamina signs crude swap deal with Malaysia’s Petronas
JAKARTA: Indonesia‘s state owned oil and gas company PT Pertamina signed a framework agreement with Malaysia’s Petronas to sell and buy crude this year, Pertamina said in a statement on Tuesday The agreement is a follow up to their plan last year to swap crude, Pertamina said. Pertamina will swap crude produced in its Malaysian fields of Kikeh, Kimanis and Kidurong with crude from Petronas’ Indonesian […]
Posco International discovers new gas field in Myanmar
Posco International said Monday that it had discovered a new offshore gas reservoir near Myanmar, raising hopes for a new cash cow for the company. According to the Korean company, it began exploratory undersea drilling on Jan. 12 for its Mahar gas project. The company drilled 2,598 meters into the seabed, more than 1,000 meters […]
Malampaya gas prod’n starts to decline
Growth in the Malampaya gas field production ended flat in 2019, but sets clear indication that it is still far from the forecasted probable massive decline in 2022. Data from the Department of Energy (DOE) had shown that gas yield from the country’s only commercial gas field hovered at 150.495 billion standard cubic feet (scf) […]
PTTEP allots $300m for 2020 exploration activities
PTT Exploration and Production Plc (PTTEP) has budgeted US$300 million in 2020 to explore 18 offshore gas blocks in Malaysia and Myanmar to maintain petroleum reserves. PTTEP’s exploration activities this year have tripled from six gas blocks the previous year. Chanamas Sasnanand, senior vice-president for finance, said gas demand in Malaysia and Myanmar is growing […]
Petronas-Petros partnership can help increase S’wak participation in oil and gas value chain
KUCHING: Petroliam Nasional Berhad (Petronas) has partnered with the Sarawak Economic Planning Unit on the development of the Sarawak Petrochemicals Masterplan Study, says Petronas president and group chief executive officer Tan Sri Wan Zulkiflee Wan Ariffin. He said the scope of study includes gas monetisation options as part of efforts promote gas as a cleaner […]
VPower, CNTIC form JV to operate Myanmar emergency power plants
Hong Kong-listed VPower Group has set up a 50-50 joint venture with a Chinese state firm to develop three power plants in Myanmar as part of the government’s bid to stop power cuts this year. VPower, which enjoys close links with investment bank CITIC, and state-owned China National Technical Import & Export Corporation (CNTIC) will […]
