Australia’s second-largest oil producer, Woodside Petroleum has confirmed the discovery of a new gas reserve in the Rakhine Basin located near Myanmar’s west coast.
Comprehensive analysis of the region has confirmed the impressive potential of the location. According to BP Plc data, Myanmar has roughly 10 trillion cubic feet of gas reserves.
“This discovery is an encouraging outcome for future exploration and appraisal activity in the area,” said Chief executive of Woodside, Peter Coleman.
In addition to this new finding, Woodside is preparing to begin its gas extraction operation in the North West shelf. This project has already received approval from other partners involved, including Chevron, BHP Billiton, BP, Japan Australia LNG and Shell.
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