Page 30 - Oil&Gas-AustralAsia-2015-Issue-1
P. 30
M YANMAR
Shell signs off on PSC, returns to
upstream operations
By Marie RYAN
Deep-water blocks AD-9 and AD-11 (Rakhine Basin). Deep-water blocks MD-5 (Thanintharyi Basin).
Image courtesy of Mudrock Media Image courtesy of Mudrock Media
Myanma Oil and Gas Enterprise Smith, said he was pleased to be able nation’s energy industry, its three main
(MOGE) of the Republic of the Union to sign the PSCs to operate the three prospective offshore basins (Rakh-
of Myanmar have signed exploration offshore deep-water blocks with the ine, Moattama and Tanintharyi ) are
and production sharing contracts Government of Myanmar and partner estimated to hold an estimated 17.5Tcf
(PSCs) over three deep-water blocks MOECO. of gas reserves and 3.2 billion barrels of
with Shell and its partner Mitsui Oil crude oil.
Exploration group (MOECO). “The three blocks offer an exciting
frontier exploration opportunity to While Myanmar’s frontier exploration
This year’s agreement marks the Dutch apply the advanced deep-water techni- and emerging upstream sector is pro-
super major’s return to upstream opera- cal capabilities we have built up around viding new opportunities, it also comes
tions in Myanmar. the world over the past three decades. I with its own set of challenges includ-
am delighted that we have the opportu- ing a lack of financing, poor technical
Union Minister for the Ministry of En- nity to explore and we look forward to equipment, and a shortage of skilled
ergy (MOE) H E U Zay Yar Aung said helping meet Myanmar’s aspiration to labour.
exploration is a pivotal step in the de- unlock and develop its energy resourc-
velopment of Myanmar’s energy sector, es,” Mr Smith said. The World Economic Forum (WEP)
an industry that plays a key role in the has reported a key risk to the develop-
economic growth of the country. Under the agreements, Shell will assess ment of Myanmar’s upstream sector
the potential of deep-water blocks lies in Myanma Oil and Gas Enterprise
“We look forward to partnering with AD-9 and AD-11 (Rakhine Basin) and (MOGE), which plays a pivotal role in
Shell and MOECO, who will bring MD-5 (Thanintharyi Basin). the upstream sector. According to WEF
international standards and expertise to MOGE’s expertise lies in its onshore
an expanding offshore industry, Mr U The three blocks together cover more operations, which are run by its own
Zay Yar Aung said.” than 21,000 square kilometres and are technical staff, the forum stated concern
located approximately 300 kilometres it may lack the offshore experience
Shell will use leading deep-water explo- offshore in water depths ranging from needed to efficiently develop fields.
ration technologies including advanced 1,800 to 2,700 metres.
tools for acquiring, processing and The WEF report applauded the steps
interpreting seismic and other geophys- Shell is the operator and has a 90 per taken by the Myanmar government
ical data to improve the understanding cent interest in the three contracts with to strengthen its energy sector, such
of the area’s potential hydrocarbon MOECO holding the remaining 10 per as the creation of the National Energy
resources. cent. Management Committee and an Energy
Development Committee to strengthen
Vice President of Exploration Asia and Myanmar is one of the least explored coordination and planning among the
Australia at Royal Dutch Shell, Graeme countries in the region, according to the energy sector’s institutions. §
A A28 OIL & GAS ustral SIA MARCH/APRIL 2015 www.oilandgasaustralasia.com
Shell signs off on PSC, returns to
upstream operations
By Marie RYAN
Deep-water blocks AD-9 and AD-11 (Rakhine Basin). Deep-water blocks MD-5 (Thanintharyi Basin).
Image courtesy of Mudrock Media Image courtesy of Mudrock Media
Myanma Oil and Gas Enterprise Smith, said he was pleased to be able nation’s energy industry, its three main
(MOGE) of the Republic of the Union to sign the PSCs to operate the three prospective offshore basins (Rakh-
of Myanmar have signed exploration offshore deep-water blocks with the ine, Moattama and Tanintharyi ) are
and production sharing contracts Government of Myanmar and partner estimated to hold an estimated 17.5Tcf
(PSCs) over three deep-water blocks MOECO. of gas reserves and 3.2 billion barrels of
with Shell and its partner Mitsui Oil crude oil.
Exploration group (MOECO). “The three blocks offer an exciting
frontier exploration opportunity to While Myanmar’s frontier exploration
This year’s agreement marks the Dutch apply the advanced deep-water techni- and emerging upstream sector is pro-
super major’s return to upstream opera- cal capabilities we have built up around viding new opportunities, it also comes
tions in Myanmar. the world over the past three decades. I with its own set of challenges includ-
am delighted that we have the opportu- ing a lack of financing, poor technical
Union Minister for the Ministry of En- nity to explore and we look forward to equipment, and a shortage of skilled
ergy (MOE) H E U Zay Yar Aung said helping meet Myanmar’s aspiration to labour.
exploration is a pivotal step in the de- unlock and develop its energy resourc-
velopment of Myanmar’s energy sector, es,” Mr Smith said. The World Economic Forum (WEP)
an industry that plays a key role in the has reported a key risk to the develop-
economic growth of the country. Under the agreements, Shell will assess ment of Myanmar’s upstream sector
the potential of deep-water blocks lies in Myanma Oil and Gas Enterprise
“We look forward to partnering with AD-9 and AD-11 (Rakhine Basin) and (MOGE), which plays a pivotal role in
Shell and MOECO, who will bring MD-5 (Thanintharyi Basin). the upstream sector. According to WEF
international standards and expertise to MOGE’s expertise lies in its onshore
an expanding offshore industry, Mr U The three blocks together cover more operations, which are run by its own
Zay Yar Aung said.” than 21,000 square kilometres and are technical staff, the forum stated concern
located approximately 300 kilometres it may lack the offshore experience
Shell will use leading deep-water explo- offshore in water depths ranging from needed to efficiently develop fields.
ration technologies including advanced 1,800 to 2,700 metres.
tools for acquiring, processing and The WEF report applauded the steps
interpreting seismic and other geophys- Shell is the operator and has a 90 per taken by the Myanmar government
ical data to improve the understanding cent interest in the three contracts with to strengthen its energy sector, such
of the area’s potential hydrocarbon MOECO holding the remaining 10 per as the creation of the National Energy
resources. cent. Management Committee and an Energy
Development Committee to strengthen
Vice President of Exploration Asia and Myanmar is one of the least explored coordination and planning among the
Australia at Royal Dutch Shell, Graeme countries in the region, according to the energy sector’s institutions. §
A A28 OIL & GAS ustral SIA MARCH/APRIL 2015 www.oilandgasaustralasia.com
