Friday, April 10, 2015

Myanmar to explore a large oil and gas field in Andaman Sea

Weekly Eleven April 10, 2015
Locals countered questions over representatives of Canadian Foresight Group (Photo-EMG)
A joint-venture group including Myanmar and Canadian companies has been granted permission from the Myanmar government to explore a newly discovered oil and natural gas field in the Adman Sea. The trial test will begin in September.

The oil field is located in Kyunsu Township, Myeik District, in southern Myanmar, and it covers an area of 13,480 square kilometres. It will be the largest natural gas field in Myanmar, and the exploration will be carried out by Canadian Foresight Group Pte Co Ltd, Century Bright Gold Co Ltd and TRG Co Ltd.

“We gained approval to explore the oil field on March 30. We have come here to clarify the project to locals before we start it. We want to listen to the advice and discussions of locals and learn how to proceed with the project. We will use advanced technology so as to not harm the environment,” said Perla Woo, vice chairperson of Canadian Foresight Group Pte Co Ltd.

She said the company will strive to make electricity available and implement a development plan for to ensure the locals benefit from the project.

“We expect to begin exploration in September. If it is possible, we want to begin the project in December,” said Kyaw Moe, who is in charge of the site.

The exploration area is located in the deep sea, where water is thousands of metres deep and far from fishing areas. Most fishing boats work in waters that are between 200 and 1,000 metres deep, a fishing business owner said.

Although Myanmar is home to many offshore oil and natural gas projects, such as Yetagon and Zawtika in Tanintharyi Region, local communities receive little benefit from the projects. Locals should express their concerns about these projects, and the regional government will listen. The regional government asked for environmental impact assessments before granting these permissions, said regional economic and finance minister Thein Lwin.