GAIL´s Myanmar Gas Resources Certified

Gail India Ltd has announced that the estimated gas resources in the three discovered gas fields Shwe and Shwe Phyu in Block A-1, and May field in Block A-3, have been certified by M/s. Gaffney Cline and Associates (GCA). The resource certification by the third party indicates the total estimated gas initially in place is of the order of 5.7 to 10 trillion cubic feet (tcf) of gas.

The Company along with consortium partners, operator - Daewoo International Corporation, ONGC Videsh Ltd and KOGAS are carrying out exploration activities in Block A-1 and A-3 Myanmar.

The recently concluded feasibility study for field development forecast that the three fields from A-1 and A-3 can produce about 16 million cubic meter of gas per day for 20 to 25 years. First commercial gas production is expected to commence in mid 2010.

Source : Equity Bulls

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