POSCO International continues its myth of gas field in Myanmar
POSCO International continues its myth of gas field in Myanmar
  • Jung Jun-ho
  • 승인 2020.02.18 11:06
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POSCO International said it has discovered a new gas layer in the deep sea of Myanmar and has set the stage for the success of the new gas field. (Courtesy of POSCO International)

POSCO International has discovered a new gas layer in the deep sea of Myanmar and has set the stage for the success of the new gas field.

POSCO International said on Feb. 17 that it has confirmed the productivity of about 38 million cubic feet per day after conducting a gas-producing test of a promising structure in Myanmar’s A-3 mining area.

A promising structure refers to a place where gas is assumed to exist as a result of the prior inspection, and a gas extraction test refers to the task of directly verifying the productivity of gas within the stratum identified using drilling equipment.

POSCO International has conducted drilling up to about 2,598 meters underground in the Maha promising structure, a deep-sea area of more than 1,000 meters deep, since April 12.

By confirming good productivity in the gas layer, which is about 12 meters thick, POSCO International has proved its deep-sea exploration capability once again.

POSCO International will begin the evaluation process from 2021 on the gas layer of Mach promising structure. After two years of detailed analysis, the company plans to develop the gas field into a cash cow linking the gas field in Myanmar.

POSCO International produces and sells gas to China and Myanmar from two offshore gas fields in Myanmar. Based on this, it sold 216.2 billion cubic feet of gas last year, which surpassed its past performance and achieved its biggest operating profit ever of 605.3 billion won.

"The discovery of the new gas layer will serve as an opportunity to make a fresh leap forward in the energy sector in the future," a POSCO International official said. "We will continue to push forward with the exploration of promising mining areas to accelerate the completion of POSCO Group’s energy value chain."


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