Woodside Petroleum has discovered a large offshore gas reserve at the Shwe Yee Htun-1 exploration well in block A-6 in the Rakhine basin, located in the western offshore area of Myanmar through its local joint venture.
Woodside, which is the joint operator, holds a 40% stake in the A-6 block while Total also holds 40% and local energy firm MPRL E&P holds 20%.
“Further analysis will be undertaken to understand the full potential of the play, but this de-risks a number of leads, which will now be matured. This discovery is an encouraging outcome for future exploration and appraisal activity in the area,” said Peter Coleman, ceo of Woodside.
Woodside has stakes in six exploration blocks in the Rakhine Basin, with permits covering 46,000 sq km and representing 20% of the company’s global exploration acreage.
