Woodside’s Myanmar play – Australian oil andgas company upbeat on prospects
Australia’s Woodside oil and gas company is upbeat on gas finds in Myanmar’s offshore oil and gas fields. Mizzima Business reporter Aung Thura sat down with visiting Woodside Senior Vice President Corporate and Legal Executive Mr Michael Abbott for an exclusive interview for Mizzima Weekly and Mizzima TV.
In the following interview, Mr Abbott discusses prospects for the oil and gas sector in Myanmar, his company’s plans, dealing with the new government, and the company’s CSR programme, in which they have spent US$400,000 so far. The company has so far invested US$200 million in its Myanmar “play.”
Aung Thura: When we look at Australian investment in Myanmar from 1988 to 2015, there is no major investment in the country. But in 2015 we see ANZ, the Australian and New Zealand bank and Woodside. With regard to Woodside, what is your vision and mission in Myanmar?
Mr Michael Abbott: Well I understand we are probably the biggest Australian investor in Myanmar now. So from our perspective it is an interesting place to be, it has an interesting hydrocarbon industry. We have had two exploratory wells drilled at the end of last year, beginning of this year. For us, that is very exciting. It means it is an establishing emerging hydrocarbon industry but these two wells are what we call ‘new plays’ that shows new potential. So we would certainly like to develop those commercially as soon as we can. We have a drilling campaign for four more wells over the next twelve months, again, exploration appraisal wells, which will hopefully add further volumes to those existing discoveries. And, at the same time, we are looking how we can commer-