YANGON, June 25 (Xinhua) -- Myanmar has expected to produce 675.615 billion cubic feet of natural gas from four natural gas projects of the country in the next fiscal year 2017-2018, official media reported Saturday.
The four projects are Yetagun project in the Andaman Sea, Shwe project in Bay of Bengal, Yadana offshore in the Andaman Sea and Zawtika project, the largest overseas offshore producing gas field in the Gulf of Mottama.
According to the country's second five-year national development plan (2016-2021), these projects are estimated to produce 515.015 billion cubic feet of natural gas for export and another 160.60 billion for local consumption in the FY 2017-2018.
The government has planned to invite more foreign companies to operate joint venture business in cooperation with citizen-owned firms at both inland and offshore blocks in order to meet the domestic consumption.
At present, such foreign firms as Petronas, Daewoo, French based S.A and PTTEP are operating in the country's four natural gas projects.
Meanwhile, the government is planning to amend the current laws, bylaws and regulations for the country's oil and gas exploration.