PTTEP has taken the final investment decision for the M-3 gas development offshore Myanmar, a project that had been delayed. The development centers on the Aung Sinkha discovery, with production potentially starting by 2028.

Project Details and Production Estimates

The project is based on the 2011 Aung Sinkha discovery. A successful appraisal well tested at about 25 million cubic feet per day of gas and 150 barrels per day of condensate. PTTEP estimates the field's absolute open flow rate at approximately 53.5 MMcfd and plans for a production rate of 60 MMcfd, though Myanmar officials had previously estimated a higher output range of 110 to 150 MMcfd. This will be PTTEP's first project in Myanmar specifically for the domestic market, supplying gas to a local power plant.

Development Plan and Leadership

Various development scenarios have been studied since the discovery. The current scheme is expected to involve two wellhead platforms. PTTEP's chief executive noted that the incoming executive, set to succeed in 2026, has a strong execution background from involvement in the earlier Zawtika gas field development in Myanmar.

Context of PTTEP's Operations in Myanmar

PTTEP continues to develop the Zawtika gas field in phases across blocks M-9 and M-11. The latest phase involved four new wellhead platforms and subsea infrastructure, with past platform construction handled by contractors from Indonesia, India, and China. PTTEP now holds 100% operated equity in Block M-3 after its former partner relinquished its stake. The state-owned Myanma Oil & Gas Enterprise (MOGE), which holds a 20% stake in Zawtika, could also become a partner in the M-3 project following the final investment decision.