Woodside Petroleum makes a gas discovery offshore Myanmar, moving the company closer to production off the south east Asian nation.
Woodside Makes Gas Discovery Offshore
Australian based Woodside, announced the news Monday (Jan 4), saying that the discovery was made at the firm’s Shwe Yee Htun-1 exploration well, in licence block A-6, in Myanmar’s Rakhine Basin.
The discovery proves commercially viable reserves in the area, removing an amount of risk for further exploration wells and development of the region by all companies exploring within Myanmar’s waters.
Myanmar Offshore Gas
The Shwe Yee Htun-1 exploration well, was spudded on November 27th, with the drilling rig reaching its target death of 15,781 feet (4810m) on December 23rd.
Wireline logging was concluded on December 29th, which showed the need to increase the depth of the well to 17,408 feet (5306m), giving a gross gas column of 423 feet (129m), over the 49 feet (15m) found at the original target depth.
Commenting on the discovery, Woodside CEO, Peter Coleman, said the well provided evidence of a working petroleum system in the Rakhine Basin.
Coleman said: “Further analysis will be undertaken to understand the full potential of the play, but this de-risks a number of leads which will now be matured,”
“This discovery is an encouraging outcome for future exploration and appraisal activity in the area.”
The A-6 licence block is a joint venture between: Woodside Energy & Woodside Myanmar 40%; Total 40%; and Myanmar sate run MPRL E&P 20%. Woodside and MPRL act as joint operators of the licences.