Commercial gas production will commence at the A6 block Shwe Yee Htun-2 discovery, offshore Myanmar, in 2023. The development comes after the MOEE on September 22, 2019 said gas could be produced at Shwe Yee Htun-2 well. Further drilling has shown gas extraction at depth of 2,325 meters possible at the well at block A6, about 100 km away from Pathein in Ayeyarwady Region.

MPRL E & P Company will undertake production activities at the first-ever commercial offshore oil and gas production project once it is approved. A total of five wells have been drilled at block A-6 since 40 meters of net gas pay was first discovered at a depth of 4,820 meters at the Shwe Yee Htun-2 in 2018. Gas has been found in all five subsequent wells.

MPRL E & P holds a 20 percent stake in block A6, while Woodside Energy from Australia and French energy giant Total hold stakes of 40pc each. Under an existing agreement, Total is to take over operations at the block during the development phase. The State will receive 25pc of all gas produced from Shwe Yee Htun-2. The Shwe Yee Htun-2 discovery adds to the Shwe Yee Htun-1 and Pyi Thit-1 gas discoveries made in 2016 and 2017, respectively, at the block.

Source: Myanmar Times 

THE Myanmar Agriculture Development Bank under the Ministry of Planning and Finance will give loans for the strong demand crops under eight categories in 2019-2020 FY, in addition to the existing 14 items of agricultural produce.

The new scheme will cover four beans (haricot bean, lablab bean, rice bean and green bean); two crops edible oil (flaxseeds and sunflower seeds), and two kitchen crops (onion and chili). The loans for these crops will be given commencing this winter at K 100,000 per acre like other crops.

To support the small-scaled farmers, the government increased to this amount from K20,000 per acre in 2017- 2018 FY and K50,000 per acre in 2018-2019 FY respectively, while the loan for paddy was increased to K150,000 per acre from K100,000 per acre in 2016-2017 FY.

Source: Global New Light of Myanmar

Peanut oil is being sold at a high price in the central regions — Kyaukpadaung and Yenangyoung townships — due to low production of peanut, according to some oil shops and peanut brokers.

Currently, only old peanuts are being sold in the market because the new crop has not been harvested yet. Additionally, peanut oil is also being exported to China, therefore, the price is not likely to fall, said Ko Kyi Khine, a broker. The prevailing market price of peanuts is K 3,000 per viss (1 viss is equivalent to 1.6 kg), while peanut oil is being sold for K 6,600 per viss. The price has remained on the high side, while the supply has been low in the market. Peanuts are mainly cultivated in the central regions of Myanmar. Last year, the price of peanuts had reached K 14,000 per basket, while the wholesale price of peanut oil was in the range of K6,000 per viss.

Last year’s high price encouraged growers to cultivate peanuts this year, said U Tin Yun, a farmer from Yenangyoung Township. A total of 36,093 acres of monsoon peanut is planned to be cultivated during the rainy season in Yenangyoung Township, according to the Township Agriculture Department.

Source: Global New Light of Myanmar 

PTT Exploration and Production Public Company Ltd has raised its sales volume of 318,000 barrels of oil equivalent per day (BOED) to 345,000 barrels, or 8.5 per cent, for 2019 from its natural gas and oil exploration blocks in Thailand and other countries. After the PTTEP revised its five-year investment plan, it decided to increase the earlier target sales volume for the five years from 2019 to 2023.

Now, the PTTEP targets to raise its daily sales volume of 345,000 barrels for 2019, 365,000 barrels for 2020, 380,000 barrels for 2021, 409,000 barrels for 2022 and 437,000 barrels for 2023. According to the company’s announcement, the PTTEP completed the acquisition of Murphy Oil Corporation in Malaysia in early July, resulting in an increase in petroleum sales by approximately 48,000 BOED for the second half of 2019. This will significantly contribute to the 2019 target sales volume of 345,000 BOED.

Phongsthom Thavisin, Chief Executive Officer of the PTTEP, said the company has had success, not only in Thailand but in other countries, thanks to its business expansion strategy, which includes a plan to accelerate exploration of oil and gas in Myanmar, covering the Zawtika project. Also, the PTTEP has revised the higher capital expenditure for the five-year period to US$21.354 billion from $16.105 billion.

Source: Global New Light of Myanmar 

The Khaing Khaing Sangda Motorcar factory in the Thadukan industrial zone, Shwepyitha Township, Yangon Region, is producing 40 electric cars per day.
Production at the factory started this month on two new models of hybrid electric cars — KSD-V1 and KSD-V2. The cars are being jointly produced by China’s Yue Di and the Khaing Khaing Sangda Motorcar factory.
“At present, more than 100 electric cars have been manufactured. The cars will get a licence number by the end of March. The factory plans to continue producing electric vehicles.

Source- Global New Light of Myanmar

A 90-megawatt gas-fired station was opened in central Myanmar to serve as an additional power supply in summer when the domestic electricity demand reaches its peak.
Constructed by the Hong Kong-based VPower Holdings Limited and its local partner Zeya & Associates Co. Ltd., under build-operate-own (BOO) system, near a steel factory in Myingyan Township, Mandalay Region, the station will generate 90 megawatts in summer and 45 megawatts in the rainy season, during which the production capacity of hydropower stations is high.
Normally, the station will burn 20 million cubic feet of natural gas per day supplied by Shwe offshore field, but thanks to the organic rankine cycle (ORC) technology, that raises the efficiency of generators by two percent, it uses less natural gas, the Union Minister explained.
He then explained the tender process and test run of the station that has been supplying power for the public and industries of Myingyan, Taungtha, Nwatoegyi and Bagan-NyaungU townships, water pumping stations in Myingyan District and Myotha industrial zone since 1 February 2019 through the 132-kv subpower station.
The Shwe offshore gas field in Myanmar waters is supply gas for generating 382 megawatts of electricity including in rural areas of Kyaukphyu and Central Myanmar.

Source: Global New Light of Myanmar

Under the (JICA) Japan International Cooperation Agency’s two-step loan scheme, a loan of over Ks30 billion have been disbursed to more than 800 farmers during more than one year.

Currently, the bank is granting loans to farmers in 43 townships for the purchase of 169 agricultural machineries.

Under the JICA’s two-step loan project, the bank will disburse a loan of around Ks180 billion (15 billion Japanese yen) with the 40-year repayment period including the ten-year suspension period.

Under the project, the bank will disburse a loan of up to Ks50 million to an individual and up to Ks 0.5 billion to a group. The bank will disburse loans to farmers in order that they can buy agricultural equipment and trucks. The bank will give more priority to the farmers who will buy agricultural equipment.

Even though the disbursement of about Ks180 billion for the development of farm sector and the rural region is huge in term of amount, the loans will go to only two per cent of farmers across the country, she continued.

Source: Daily Eleven

Ministry of Electricity and Energy (MOEE) released a statement about invitation for anyone who wants to establish mini refinery. Foreign owned companies or Myanmar citizens who are interested in setting up mini refinery could send an application to the Myanmar Petrochemical Enterprise (MPE), a department under MOEE.

Myanmar citizen applicants have to submit their names, ID cards, contact address, and telephone numbers. Companies or organizations which apply for the license need to submit the relevant company names, company identity numbers (Copy), telephone and mobile numbers, land ownership certificates, location and environment for establishment, recommendation from State or Region government, lay out plans, detail design drawings, daily production amount, batch type of continuous type, plan for raw materials, plan for electricity and energy usage, cleaning system of chemical and drain, and plan for fire fighting system.

Details about rule and regulation for applicants are provided at the MOEE website (www.moee.gov.mm).  Applicants can also contact MPE by dialing 067-3411082 and 067-3411093 in office time for detail information.

Source: Daily Eleven