Interra said new drilling in the Chauk field, which is linked with the ageing Yenangyaung Field 3233 dating back to the 1930s, has struck oil in its CHK 1164 development well. The strike depth was 2,281 feet.
More oil has been struck in the Magway Region of Myanmar by Singapore-based Interra Resources’ subsidiary Goldpetrol.
Interra has a 60% interest in the Improved Petroleum Recovery Contract of the Yenangyaung field and also owns 60% of Goldpetrol which is the Operator of the field.
Interra said on Aug. 6 that it had also begun new drilling in the Yenangyaung field in a bid to revive output under an Improved Petroleum Recovery Contract it has with the state-controlled Myanmar Oil and Gas Enterprise.
Chauk and Yenangyaung oil fields, Magway Region, Central Myanmar
Interra has previously announced other oil strikes, all small, in the Yenangyaung field area.
Myanmar’s oil and gas sector was the biggest segment of an overall US $408 million invested in the country during the first five months of 2012, according to government figures published this week.
Of that total, $366 million went into 20 oil and gas projects.
Chauk and Yenangyaung oil field blocks, magway Region, Central Myanmar
The Ministry of Energy has said it will offer as many as 40 new onshore and offshore blocks licenses during an industry promotion forum to be held in Yangon in the first week of September.
Original Link Irrawaddy.org
Images courtesy of Rigzone and Google Earth