Shwe Field Gas Reserves Estimated between 2.88 TCF – 3.56 TCF
The consortium partners of Block A-1 have announced Original Gas In Place estimate of the Shwe field based on an independent assessment done by Ryder Scott Company, a consulting firm based in Houston. ONGC Videsh Ltd (OVL) holds 20% participating interest in this block. The other consortium partners in this block are Daewoo International Corporation 60% as the operator, Korea Gas Corporation with 10% and GAIL (India) Ltd with 10%.
The Gas volume (In Place) of the Shwe field has been assessed between 2.88 TCF to 3.56 TCF by the consulting firm.
The consortium has already started the 2005-06 drilling campaign, with Shwe Nilar-1 well near the Shwe field offshore Myanmar, in mid December 2005, to add up more gas volume in the Shwe area.
The Shwe Phyu field, another discovery in Block A-1, will be appraised by three appraisal wells during the current drilling campaign. The consortium will also start an exploration drilling program in Block A-3 by drilling the first exploratory well, Mya-1, in the beginning of 2006.
During the 2005-06 drilling campaign, the consortium will drill six to seven wells in Blocks A-1 and A-3, comprising of three appraisal wells at the Shwe Phyu field, two or three more exploratory wells to test the Shwe Nilar and Ngwe North prospects in Block A-1, and one exploratory well to test the Mya prospect in Block A-3.
According to Mr. Subir Raha, Chairman ONGC Group of Companies, stated that, 'Work on feasibility studies for development of the fields has already started and efforts are being made to bring the gas to India.'