Singapore Firm to Explore for Gas in Myanmar
A tripartite agreement has been signed between Singapore’s Istech Energy EP-5 Pte Ltd, Burma’s Smart Technical Services Ltd and government of Myanmar for exploration on Block EP-5 in the Inpin Tegyigon area of Myanmar.
This is the sixth contract of its kind reached after the government invited international tenders for exploration on 18 inland blocks nearly a year ago.
The contract covers EP-2 Block exploration in Aunglan region and the PSCG Block in Taungdwingyi.
Myanmar has substantial natural gas resources, especially in offshore areas. The country has proven recoverable reserve of about 18 trillion cubic feet (TCF) out of 89.722 TCF’s estimated reserve of offshore and onshore gas.