Mizzima

Thai PTT’s subsidiary PTTEP International (PTTEPI) reportedly plans to relaunch the Zawtika offshore gas project in Mottama (Martaban) bay in Myanmar.

Thailand’s PTTEP is pushing ahead with the project despite facing criticism, reports Upstream Online in a recent report.

According to junta-run media, the Military Council reported that PTTEP conducted a Aung Thinkha development plan, exploration and test drilling work in M-3 Block in offshore Mottama in February 2022.

PTTEP invested an 80% stake in the M-3 Block as an operator and it became 100% stakes holder after the MOECO Mitsui Oil Exploration Company Ltd. which owned a 20% stake, withdrew their investment.

Previously PTTEP said that they would produce an average of 324 cubic feet of gas per day from the Zawtika gas project from 2019 to 2023 and they expected to increase their production to 400 cubic feet of gas per day in 2024.

After the 2021 military coup in Myanmar two international energy giants PTT owned by Thailand and the South Korea based POSCO are still working in Myanmar. PTTEP is invested in Yadana and POSCO is invested in the Shwe gas project.

All other international energy companies which invested in the Yetagon offshore gas and oil projects in the Andaman Sea announced in April that they would leave these projects permanently.

Amid the deteriorating situation on all fronts after the military coup in Myanmar the international energy giants such as Total from France and Unocal and Chevron from US stopped their operations and left Myanmar.

Natural gas projects in Myanmar provide foreign exchange of up to over US$1 billion every year to the Military Council. The energy sector is the main foreign exchange earning source for the Military Council.

Most of these gas export earnings come from gas pipelines connected with Thailand and China.