PTTEP Has Myanmar Duster

摘要

Thai PTT Exploration and Production (PT-TEP) said Thursday that its Janaka-2 exploration well in Myanmar's Block M3 proved a dud after failing to find enough gas and it would write off the 930 million baht ($27 million) drilling costs. This makes two in a row: in December, it said its Janaka-1 well in the adjacent M7 Block in the Gulf of Marta-ban also failed to find enough gas for a commercial development (IOD Dec.5,p8). PTTEP owns 80% of M3, with the remainder held by China National Offshore Oil Corp. The Thai explorer said it will conduct additional studies for further exploration "in the near future."