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"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 />

HUMANITARIAN<br />

Q1<br />

n «•HtHA<br />

Toco<br />

ISWANE'<br />

O MA^rABA^ feaup<br />

— • PIPE UNÊ<br />

(S) field<br />

J*. ôtt e*Pt£>MxtON<br />

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

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