Burma : Sinopec makes Burma find

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Sinopec makes Burma find
Xu Yihe
06 January 2011


Sinopec: Reports indicate the company has made a significant find oil and gas find in Burma.

Sinopec has confirmed a major gas discovery in Burma, but needs approval from Burmese authorities to endorse the final reserve size before public announcement.

Burma media reported that Sinopec International Petroleum Corporation (SIPC) has discovered proven reserves of 909 billion cubic feet of gas and 7.16 million barrels of condensate in Pahtolon oilfield in central part of the country.

While confirming the discovery, a Sinopec official said the reserve size was slightly lower than reported.

“The reserves will be announced after being confirmed by government authorities,” he told Upstream.

The discovery is made by SIPC Burma Petroleum Co. Ltd. a joint venture between SIPC’s joint venture between state-owned Myanma Oil and Gas Enterprise.

The official said more exploration is being planned at the field.

Sinopec’s latest gas discovery will further consolidate China’s energy position in Burma, where other Chinese oil majors including PetroChina and China National Offshore Oil Corporation also have upstream interests.

The most ambitious project is for PetroChina to build two parallel oil and gas pipelines between Burma and China’s Yunnan province.

PetroChina has secured a sales contract to get gas from blocks A-1 and A-3, which have proven reserves of up to 10 trillion cubic feet, with up to 8.6 TCF recoverable.

upstreamonline.com

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Sinopec finds large oil and gas deposits in Myanmar
(Reporting by Aung Hla Tun; Writing by Martin Petty; Editing by Alan Raybould)

YANGON Jan 6 (Reuters) - Sinopec International Petroleum has discovered estimated deposits of 909 billion cubic feet of gas and 7.16 million barrels of condensate in central Myanmar, state media in Myanmar reported on Thursday.

The company, the international trading arm of China Petroleum & Chemical Corp (Sinopec) (0386.HK), made the find in the Pahtolon oilfield after extensive testing and planned to carry out more in the future, official newspapers said.

reuters.com