Total (Paris:FP) (LSE:TTA) (NYSE:TOT):
Total announces a successful appraisal of the A6 block Shwe Yee Htun-2 discovery, offshore Myanmar, completing a major step towards confirming a commercial project. The well was drilled to a final depth of 4,820 meters and encountered 40 meters of net gas pay in a high quality reservoir. Preliminary tests confirm good reservoir quality, permeability and well production deliverability.
The Shwe Yee Htun-2 adds to the Shwe Yee Htun-1 (2016) and Pyi Thit-1 (2017) gas discoveries made earlier on the Block. The cumulated resources are evaluated in the range of 2 to 3 Tcf.
“This new discovery on A6 block is a major step towards unlocking new gas reserves in an area closely located to the fast growing regional markets. Total’s track record of Myanmar’s Yadana gas field exploitation is a key asset to lead these discoveries to commercial development,” outlined Arnaud Breuillac, President Exploration & Production at Total.
Total holds a 40% interest in A6 block, alongside Woodside Energy Ltd (40%, technical joint operator for exploration and appraisal operations) and MPRL E&P Pte Ltd (20%, joint operator). As per joint venture agreements, Total is to take over operatorship in the development phase.
Total in Myanmar
Total E&P Myanmar (TEPM) is the operator (31.2%) of the M5 and M6 blocks on the Yadana offshore gas field, on stream since 1998. The production from M5 and M6 blocks currently supplies half of Myanmar’s gas consumption and around 12% of gas consumed by neighboring Thailand. In 2017, TEPM has started up production from the Badamyar project, which enables an extension of the Yadana gas field’s production plateau beyond 2020.
Total is a global integrated energy producer and provider, a leading international oil and gas company, a major player in low-carbon energies. Our 98,000 employees are committed to better energy that is safer, cleaner, more efficient, more innovative and accessible to as many people as possible. As a responsible corporate citizen, we focus on ensuring that our operations in more than 130 countries worldwide consistently deliver economic, social and environmental benefits.
* * * * *
This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL S.A. directly or indirectly owns investments are separate legal entities. TOTAL S.A. has no liability for their acts or omissions. In this document, the terms “Total” and “Total Group” are sometimes used for convenience where general references are made to TOTAL S.A. and/or its subsidiaries. Likewise, the words “we”, “us” and “our” may also be used to refer to subsidiaries in general or to those who work for them.
This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL S.A. nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.