Local Property News | Posted by Si Thu Aung
Posco International has announced on February 17 that new offshore oil and gas deposit “Mahar” have been found in the offshore block A-3.
The field will produce 38 million cubic feet of natural gas per day, with the sand net weight of 12 meters. MOGE ONGC, GAIL and KOGAS are involved in A-3 operations. It is scheduled to excavate next two holes in the next two years, according to reports.
The Posco Company is operating gold (A-1) and emerald (A-3). The new Mahar oil and gas deposit is located in the southwest part of emerald gas deposit and is located 30 kilometers from the Gold Gas Project. The natural gas which produce from A-1 and A-3 are being exported to China and Myanmar, with a net profit of $ 549.84 million in 2019.
Natural gas testing production can reduce investment costs and have advantages of short-term completion.
Written by iMyanmarHouse.com Team
Credit: iMyanmarHouse.com
