GAIL finds 5.7 to 10 trillion cubic feet gas reserves in three Myanmar fields
Our Corporate Bureau
17 August 2006
Mumbai: State-owned GAIL (India) Ltd has estimated 5.7 trillion cubic feet to 10 trillion cubic feet of natural gas reserves in three discovered fields in two blocks in Myanmar.
"The estimated gas resources in the three discovered gas fields Shwe and Shwe Phyu in Block A-1, and May field in Block A-3, have been certified by Gaffney Cline and Associates (GCA). The resource certification by the third party indicates the total estimated gas initially in place is of the order of 5.7 to 10 trillion cubic feet (tcf) of gas," the company said in a press release.
"The recently-concluded feasibility study for field development forecast that the three fields from A-1 and A-3 can produce about 16 million cubic metres of gas per day for 20 to 25 years. First commercial gas production is expected to commence in mid 2010," it added.
GAIL has 10 per cent stake each in Block A-1 and A-3, while ONGC Videsh Ltd, the overseas arm of the Oil and Natural Gas Corporation (ONGC), holds 20 per cent in the field. South Korea's Daewoo operates both the blocks with 60 per cent stake and the remaining 10 per cent is with KOGAS of Korea.