SEOUL, Feb. 17 (Korea Bizwire) — POSCO International Corp., a South Korean general trading company, said Monday that it has discovered a prospective gas field off the western coast of Myanmar.
A drill stem test in the Mahar exploration well in Block A-3 in December showed that the area is expected to produce about 38 million standard cubic feet per day of natural gas, according to POSCO International.
The affiliate of South Korean steel giant POSCO said it will carry out appraisal drillings in the Mahar exploration well next year before working out details in coming years for exploration of the prospective gas field.
The Mahar exploration well is located about 30 kilometers south of the Shwe gas field in Myanmar.
Currently, POSCO International sells natural gas produced from Shwe and Mya offshore fields to China and Myanmar through a 793-kilometer-long land-based pipeline.
The company said phase 2 development of its gas project is under way in Myanmar, with production scheduled to begin at Shwe gas field and at Shwe Phyu gas field in 2021 and 2022, respectively.