South Korea's Posco International on 17 February announced it has discovered a new offshore gas reservoir in the Block A-3 off the 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 company will carry out appraisal drillings in the Mahar exploration well next year and carry out exploratory drilling for another project 'Yan Aung Myin-1' in the Block A-3.  Mya offshore gas field  in Block A-3 produces natural gas. Offshore gas fields in the Block A-3 are jointly operated by the Posco, MOGE, ONGC, GAIL and KOGAS.

On 17 February, the Minister for Electricity and Energy and party visited the Mahar exploration well. 

The Mahar exploration well is located about 30 kilometers south of the Shwe gas field in Myanmar. It can reduce investment costs and has a short construction period as an advantage. 

It is currently producing and selling gas extracted from two offshore gas fields in Myanmar, Shwe (A-1)  and Mya (A-3). 

Currently, POSCO International sells natural gas produced from Shwe and Mya offshore fields to China and Myanmar.