PTTEP has made a discovery with the Zatila-1 exploration well located on Block M9 offshore Myanmar. The well was drilled to the total depth of 2,912 meters subsea and encountered several petroleum bearing formations. The flow rate testing (Drill Stem Test) was conducted over two intervals. The first interval (2,690 meters) found gas and crude oil of 40º API, at very low flow rate. The second interval (2,326 meters) found gas and crude oil of 54º API at the flow rate of approximately 16,000 standard cubic feet per day and 30 barrels per day respectively. At this level of flow rate, it is not enough to establish commerciality of the well. However, it is an important discovery since this has been the first oil discovery in the Gulf of Mataban.
PTTEP will conduct more exploration in the area of Zatila to search for large oil reservoir structures and plan to drill more exploration wells in structures where natural gas was found in order to identify the petroleum potential and establish development plan for M9.
PTTEP International Limited is the operator and sole shareholder of exploration block M9 in Myanmar. The block is located in the Gulf of Mataban, about 250-300 kilometers south of Yangon.
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