Using its world-class technology and years of know-how, POSCO DAEWOO promotes oil and gas development projects all around the world and solidifies its standing as a global E&P company. POSCO DAEWOO's business competency has been widely recognized as a result of its extensive expertise in the upstream sector such as the exploration, development and production of oil and gas.
Myanmar Gas Field
POSCO DAEWOO's offshore gas field project in Myanmar first began in 2000. After over a decade of exploration and development process, it started commercial production in June 2013. Shwe, Shwe Phyu and Mya, three of the largest oil and gas fields developed overseas by a Korean company, have enabled POSCO DAEWOO to step up to become Korea's top resource developer.
The Myanmar offshore gas field project was built on the passion of the company’s employees whose adventurous spirit made the project a success against difficult investment conditions during the corporate workout. The precise decisions of the company’s technicians, the management's trust in them, prompt decision-making and the relentless commitment to success all came together as POSCO DAEWOO's adventurous spirit to make the Myanmar gas field project a true success.
- Participation : 2000 (Began production in June 2013)
- Equity : 51% (Operator)
- Acreage : 5,560㎢
Parties : ONGC VIDESH(Oil and Natural Gas Corporation Videsh Limited), MOGE (Myanmar Oil and Gas Enterprise),
GAIL (India) Limited, KOGAS (Korea Gas Corporation)