Australian oil & gas company Woodside announced that its exploration efforts in the western offshore area in the Rakhine Basin have yielded “encouraging” results, with its Shwe Yee Htun-1 exploration well intersecting a gross gas column of approximately 129 metres.
The company’s CEO Peter Coleman said the find provided evidence of a working petroleum system in the Rakhine Basin deep water.
“Further analysis will be undertaken to understand the full potential of the play, but this re-risks a number of leas which will now be matured,” Mr Coleman said.
“This discovery is an encouraging outcome for future exploration and appraisal activity in the area.”
Block A-6 is held by Woodside Energy (Myanmar Pte Ltd) (40%), MPRL E&P Pte Ltd (20%) and Total (40%).
The company has interests in six blocks in the Rakhine Basin, which make up 46,000 km2 and represent 20% of Woodside’s global exploration acreage.