Woodside Petroleum is preparing for its Myanmar drilling campaign as soon as next year, after identifying 2.4 Tcf of gas in the area earlier this year.
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Coleman. Image from Woodside. |
“Our competitive position in Myanmar provides us with substantial resource potential that is located close to existing infrastructure and assets,” Peter Coleman, Woodside CEO and managing director said in a teleconference.
According to the company’s 1H 2016 results, the two discoveries made in late 2015 - Shwe Yee Htun-1 and Thalin-1a – have identified 2.4 Tcf of gas discovered to date.
“We are looking at how we can access and pursue options to commercialize these discoveries. We're processing and evaluating currently more than 31,500sq km of newly acquired high-quality seismic data across this basin and we're preparing for a drilling campaign in 2017 with our JV partners and the Myanmar government,” Lawrie Tremaine, Woodside executive VP and CFO said. “We have a significant and well-positioned offshore acreage position in this portfolio and we see this as an exciting and significant emerging basin.”
Both discoveries, the Shwe Yee Htun-1 and Thalin-1A, are in the Rakhine Basin in the Bay of Bengal, where Woodside is one of the largest acreage holders, holding stake in six blocks.
Shwe Yee Htun is in Block A-6, about 54km offshore Myanmar. The well was drilled using the Deepwater Millennium drillship in 2000m water depth, just 7km from the edge of the continental shelf. According to Woodside, it contains around 895 Bcf 2C resources. The Shwe Yee Htun-1 discovery has both tieback and standalone development options due to additional exploration potential in areas immediately adjacent to the discovery. As a tie-back, it could tie into the Yadana Gas Processing facility using existing technology.
Thalin-1A, in Block AD-7, is about 100km offshore. The well was drilled in 836m water depth, also using the Deepwater Millennium. Thalin contains 1510 Bcf 2C recoverable resources and could be a tie-back to the Shwe Central Processing Platform using existing technology.
Read more:
Woodside mulls Myanmar gas development options, plans further drilling
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