The Myanmar Oil and Gas Enterprise (MOGE) under the Ministry of Energy, and Gulf Petroleum Myanmar Co., Ltd., a Thai company based in Myanmar, held a signing ceremony at the Ministry of Energy in Nay Pyi Taw for a Production Sharing Contract (PSC) for the Mottama Offshore Block (M-10), Min Ye Thu Project, to allow for the exploration, drilling, production, and utilization of oil and natural gas on 29 May.The ceremony was attended by Union Minister U KoKoLwin, Deputy Minister, director-general of the Union Cabinet Office, directors general/leading directors of Departments, Heads of Departments and officials of Gulf Petroleum Myanmar Co., Ltd.
The Union Minister for Energy highlighted the following points:
- It is necessary to extract and utilize the natural gas that is abundant in the country. Currently, the major offshore projects under production are facing a decline, and as the projects are nearing to completion, the exploration, drilling and production operations are being made in promising areas withpotential for oil and natural gas.
- The contract for Min Ye Thu Project Mottama offshore Block M-10 will bring benefits such as strengthening financial investment in exploration, drilling and extracting, earning foreign income, creating local job opportunities and providing natural gas needs of the country.
- He also urged the officials to strive for successfully commencing the initial extraction of natural gas by the target year of 2028, which is the main objective of the project.
The government currently operates four offshore natural gas projects: Yadana, Yedagon, Zawtika and Shwe, and two further offshore projects, totalling six projects. The Min Ye Thu Project Mottama offshore Block M-10 is the seventh offshore project of the country, and it is the first project being implemented in the tenure of the State Administration Council, it is reported.
Source: GNLM (30-5-2025)
- The contract for Min Ye Thu Project Mottama offshore Block M-10 will bring benefits such as strengthening financial investment in exploration, drilling and extracting, earning foreign income, creating local job opportunities and providing natural gas needs of the country.
- The government currently operates four offshore natural gas projects: Yadana, Yedagon, Zawtika and Shwe, and two further offshore projects, totalling six projects. The Min Ye Thu Project Mottama offshore Block M-10 is the seventh offshore project of the country, and it is the first project being implemented in the tenure of the State Administration Council.