"Dawn" News Bulletin, Vol.4 No.3 April - Online Burma Library
"Dawn" News Bulletin, Vol.4 No.3 April - Online Burma Library
"Dawn" News Bulletin, Vol.4 No.3 April - Online Burma Library
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Investors invaded into <strong>Burma</strong> recently shifted their interest from the<br />
inland oil explor&ion to the offshore site in Maitaban Gulf because a<br />
number of oil companies have failed to obtain natural gas or oil from<br />
the inland. Today, only 2-3 investors remain, continuing operations in<br />
<strong>Burma</strong>, from a total of 11 international oil companies which participated<br />
in exploring petroleum site in the initial-stage.The 11 companies had<br />
put a combined investment of about US$ 500 million to explore<br />
petroleum at the site.<br />
Taxco's newly found gasfîeld , namely Yettagun Field, in the<br />
Andaman sea just cff the Isthmus of Kra in December, 1992 is making<br />
the international money-grubbed economic first oil and gas companies<br />
reaccess their involvement regarding exploration possibilities, and the<br />
possibility of gas from this find could be transferred through another<br />
pipeline which would pass through Nat Ein Daung.<br />
The Consortium erf Unocal, Petro Canada and PTTEP, which received<br />
the rights to explore the Block F petroleum site has also recently<br />
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decided to stop its exploration<br />
work, after injecting more than<br />
US$ 40 million in the project.<br />
In the first week of <strong>April</strong>, senior<br />
officials from Petroleum Authority<br />
of Thailand (PTT) and Slorc's<br />
Myanmar Oil and Gas Enterprise<br />
Co negotiated the condition of the<br />
natural gas acquisition from the<br />
Martaban Gulf, including a pipeline<br />
to transfer it into Thailand.<br />
(For more details see DAWN<br />
NEWS BULLETIN Vol.3 No. 12)<br />
To that meeting staff from Total<br />
Exploration Co, which recently<br />
inked the contact with Slorc to<br />
explore the natural gas at the site,<br />
also attended In the<br />
meantime, it was known that PTT<br />
is also negotiating with Total<br />
Exploration Co — a giant Frendi<br />
oil company which signed an<br />
agreement with Slorc-owned<br />
Myanmar Oil & Gas Enterprise<br />
(Moge) in 1992 to develop two<br />
off-shore gas concession blocks<br />
(known as M5 and M6) and the<br />
pipeline — to hold some shares in<br />
the petroleum exploration site,<br />
which confirmed by experts of<br />
holding natural gas. At the same<br />
time, PTT recently began a serious<br />
talk with Petronas Co, the ntional<br />
oil company of Malaysia, to<br />
acquire natural gas from the latter.<br />
Slorc has allowed the PTT<br />
Exploration and Production Public<br />
Company Ltd (PTTEP), an<br />
exploration arm of the PTT, to<br />
hold up 30 per cent shares and<br />
Total Exploration Co is holding<br />
52.5 shares in the site while the<br />
remaining goes to Unocal. Slorc<br />
has an option to have 15 shares in<br />
the site.<br />
To acquire the natural gas , PTTEP<br />
is also negotiating with Texaco<br />
1 34 ' DAWN NEWS BULLETIN