Nay Pyi Taw, Feb 12 (IANS) More natural gas was discovered in the deep-sea offshore block AD-7 at Thalin (1) exploration well in Myanmar’s western Rakhine Basin offshore, sources in the Myanmar Oil and Gas Enterprise under the Ministry of Energy said on Friday.
The gas was jointly explored by Daewoo International Corporation and Woodside Energy (Myanmar)Co., Ltd in a joint venture business, Xinhua reported.
Further exploration and drilling will be conducted to identify whether the gas reserves will be commercially exploitable.
Myanmar’s deep-sea offshore blocks have the potential to produce more natural gas following the discoveries at Thalin (1) well of AD-7 block and Shwe Yi Tun (1) well of A-6 offshore block.
Meanwhile, foreign investment in Myanmar’s oil and gas sector amounted to $19.641 billion as of the end of December 2015, accounting for 33.2 percent of the total and ranking the first largest sectorally in the country’s foreign investment line-up, statistics show.