Tuesday, 1 April 2014

PTTEP Zawtika gas project to increase production

The Zawtika Gas Project will increase production to 100 million cubic feet per day from the current 50 million starting from April 1.

The source came from Thailand’s PTT Exploration and Production (PTTEP) which is currently operating the Zawtika Gas Project in joint venture with the government.

“Zawtika gas project is the largest offshore block among the foreign projects of the PTTEP. The gas produced from the project will be exported to the Thailand and will be used for local consumption,” said Tevin Vongvanich, President and CEO of PTTEP.

PTTEP International currently operates the gas project with the state-owned Myanma Oil and Gas Enterprise (MOGE) under an 80-20 percent joint venture. The company has been working in Myanmar since 1989 and it recently announced that it will invest US$ 3.3 billion in Myanmar over the next five years to explore natural resources.

The Zawtika project started producing natural gas on March 14 and aims to expand Myanmar's gas production to provide for the increasing energy demands in the two countries.

PTTEP currently has a 30 year lease on the Zawtika gas project and currently holds a 25 percent stake in the Yadana and Yetagun offshore gas projects being developed by TOTAL of France and Petronas from Malaysia.

The Zawtika project is about 300 kilometres south of Yangon and 290 km west of Dawei, in southern Myanmar.

source: Eleven Myanmar
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