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MYANMAR (Platt's Oilgram News)

Platt's Oilgram News
June 23, 2000


UK explorer Premier Oil said June 22 it has started first natural gas 
production form the Yetagun
field, offshore Myanmar, and take-or-pay contract deliveries to Thailand's 
PTT have already
commenced (ON 4/13). It said the field is currently producing 70,000 
Mcf/day and the contract volume
of 200,000 Mcf/d will be reached on July 1. Premier, in which Malaysian 
Petronas and US' Amerada
Hess each hold a 25% stake, said production began May 7 within its $ 
650-mil budget. Premier took
over operatorship of Yetagun in 1997 from Texaco and controls a 26.8% 
interest in the project. The
other partners are Petronas (30%), PTTEP International (14.17%), Nippon Oil 
(14.17%) and
Myanmar Oil and Gas Enterprise (15%). URL: http://www.platts.com