The third phase of the Shwe development project situated in Block A-1 will begin its pre-construction survey from December 20-29 according to the statement by POSCO.
The Shwe gas project is located in Blocks A-1 and A-3 in the Bay of Bengal, offshore Rakhine State. Pre-construction survey works of Shwe Phase-3 development project in block A-1 of offshore, will be carried out by M.V. Hailey Sarah and the locations where they will carry out survey works have been announced. To avoid interruptions during their work, nautical warnings within 4 kilometers of the survey work has issued during the deployment of the temporary vessel M.V. Hailey Sarah.
Department of Fisheries has also issued a maritime warning that passing of big and small vessels, cargo ships, fishing boats, motorboats and anchoring, fishing, and installing of fishing equipment near the survey site.
Phase-2 development of the Shwe gas exploration project includes drilling of four production wells and implemented their work in February 25-July 30, 2022. POSCO is also carrying out excavations for the Shwe Exploration Project (Phase 2) on Offshore Block A3 between 30, January to 15 April 2022.
POSCO International has announced on February 17, 2020 that new natural gas field “Maha” which can produce 38 million cubic feet of natural gas per day was discovered in the vicinity of offshore Block A-3.
POSCO International Corporation is one of the largest South Korea’s conglomerates and holding a joint-venture partnership with the Myanmar Oil and gas Enterprise (MOGE) in oil and gas exploration.
Shwe gas project comprises the development of three fields, namely Shwe, Shwe Phyu, and Mya projects.
The project is jointly owned by POSCO DAEWOO Corporation (PDC, 51%), Myanmar Oil and Gas Enterprise (15%), ONGC Videsh (India) (17%), GAIL (India) (8.5%), and Korea Gas Corporation (8.5%). It is being developed in three phases with the first phase completed in 2013.
