Asset Report

Block A1 and Block A3 (Shwe)

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27 September 2018

Block A1 and Block A3 (Shwe)

Report summary

Block A1 and Block A3 are located off Myanmar's Rakhine Coast, near the maritime border with Bangladesh. Daewoo was awarded Block A1 in 2000 and Block A3 in 2004, the partners are aligned across both assets. Block A1 contains two fields, Shwe and Shwe Phyu, discovered in January 2004 and March 2005 respectively. Mya was subsequently discovered in March 2006 in Block A3. Total recoverable reserves from all these fields are estimated at more than six tcf of gas. A Gas Sales Agreement (GSA) was signed between the Daewoo International-led consortium and China National United Oil Corporation (CNUOC, a wholly owned subsidiary of CNPC) in December 2008. The project was declared commercial when the EPCIC contract was awarded to Hyundai Heavy Industries and Doris Engineering in October 2009. Shwe and the northern part of the Mya field have been developed first, while Shwe Phyu and the southern part of Mya will be developed 13 to 14 years after first production.

Table of contents

  • Key facts
    • Summary
    • Key issues
  • Location maps
    • Block A1
    • Block A3
    • Posco's acquisition of Daewoo International
  • Geology
  • Well data
    • Ongoing and future
    • Block A1
    • Shwe Field Appraisal
    • Other Block A1 Exploration
    • Block A3
  • Reserves and resources
  • Production
    • Key Development metrics
  • Infrastructure
    • Exploration Costs
    • Capital Costs
    • Operating Expenditure
    • China Market
    • Domestic Market
    • Gas Pricing
  • Fiscal and regulatory
    • Cash Flow
    • Discount rate and date
    • Inflation rate
    • Oil price
    • Gas Price
    • Global Economic Model (GEM) File
    • Indicative technical valuations

Tables and charts

This report includes 25 images and tables including:

  • Key facts: Table 1
  • Index Map
  • Block A1 and A3 Map
  • Well data: Table 1
  • Reserves and resources: Table 1
  • Reserves and resources: Table 2
  • Production: Table 1
  • Production: Table 2
  • Production Profile
  • Fiscal and regulatory: Table 1
  • Cash flow
  • Economic analysis: Table 2
  • Economic analysis: Table 3
  • Split of Revenues
  • Cumulative Net Cash Flow - Undiscounted
  • Cumulative Net Cash Flow - Discounted at 10% from 01/01/2019
  • Remaining Revenue Distribution (Discounted at 10% from 01/01/2019)
  • Remaining PV Price Sensitivities
  • Participation: Table 1
  • Costs: Table 1
  • Costs: Table 2
  • Costs: Table 3
  • Sales contracts: Table 1
  • Sales contracts: Table 2
  • Economic analysis: Table 4

What's included

This report contains:

  • Document

    Block A1 and Block A3 (Shwe)

    PDF 7.69 MB

  • Document

    Block A1 and Block A3 (Shwe)

    XLS 442.50 KB

  • Document

    Block A1 and Block A3 (Shwe)

    ZIP 7.63 MB