Table of Contents
1 Table of Contents 2
1.1 List of Tables 8
1.2 List of Figures 10
2 Myanmar Energy Sector 11
2.1 Myanmar Energy Sector, Market Overview
11
2.2 Myanmar Energy Sector, Crude Oil 12
2.2.1 Myanmar Crude Oil,
Overview 12
2.2.2 Myanmar Crude Oil, Supply and Demand Balance 12
2.2.3 Myanmar Crude Oil, Regulatory Structure 18
2.2.4 Myanmar Crude Oil,
Infrastructure 18
3 Myanmar Fiscal Regime 19
3.1 Myanmar Petroleum
Fiscal Environment 19
3.2 License Terms 19
3.3 Key Fiscal Terms 20
3.4 Sample Cashflows Calculations 26
4 Myanmar Oil Upstream Investment
Environment Benchmarking 27
4.1 Introduction 27
4.2 The Overall
Ranking 27
4.3 Upstream Fiscal Attractiveness 28
4.3.1 Maximum
Government Take Index 29
4.3.2 Maximum State Participation 29
4.4 Oil
Sector Performance 30
4.4.1 Exploration Activity 32
4.4.2 Oil
Production 33
4.4.3 Oil Reserves 33
4.4.4 Oil Consumption 33
4.4.5
Refining Industry 34
4.5 Economic Performance 34
4.5.1 GDP Growth
Index 36
4.5.2 FDI Confidence Index 36
4.5.3 Balance of Trade Index
36
4.6 Socio-Political Performance 36
4.6.1 Democracy Index 38
4.6.2 Governance Index 38
5 Myanmar Exploration and Production Sector
39
5.1 Myanmar Exploration and Production Sector, Country Snapshot 39
5.1.1 Myanmar Exploration and Production Sector, Key Data 39
5.1.2 Myanmar
Exploration and Production Sector, Crude Oil Assets Map 39
5.2 Myanmar
Exploration and Production Sector, Gross Crude Oil Production 40
5.2.1
Myanmar Exploration and Production Sector, Gross Crude Oil-Historical
Production 40
5.2.2 Myanmar Exploration and Production Sector, Gross Crude
Oil Production by Assets 41
5.2.3 Myanmar Exploration and Production
Sector, Gross Equity Weighted Crude Oil Production by Company 41
5.2.4
Myanmar Exploration and Production Oil Sector, Market Share (%) based on Gross
Equity Weighted Crude Oil Production 42
5.3 Myanmar Exploration and
Production Sector, Gross Crude Oil Forecasts 44
5.3.1 Myanmar Exploration
and Production Sector, Gross Crude Oil Forecasted Production 44
5.3.2
Myanmar Exploration and Production Sector, Gross Revenue Forecast 44
5.3.3
Myanmar Exploration and Production Sector, Government Take Forecast 44
5.3.4 Myanmar Exploration and Production Sector, Contractor Take Forecast
45
6 Myanmar Pipeline Sector 46
6.1 Myanmar Pipeline Sector, Key Data
46
6.2 Myanmar Pipeline Sector, An Overview 46
6.3 Myanmar Pipeline
Sector, Comparision of Key Crude Oil Pipeline Companies 46
6.4 Myanmar
Pipeline Sector, Crude Oil Pipelines 47
7 Myanmar Refining Sector 48
7.1 Myanmar Refining Sector, Key Data 48
7.2 Myanmar Refining Sector, An
Overview 48
7.2.1 Myanmar Refining Sector, Total Refining Capacity 48
7.3 Myanmar Refining Sector, Capacity- Wise Market Share by Company 49
7.4
Myanmar Refining Sector, Crude Distillation Unit Capacity 50
7.5 Myanmar
Refining Sector, Cocking Capacity 50
8 Petroliam Nasional Berhad
(PETRONAS) 51
8.1 Petroliam Nasional Berhad (PETRONAS), Key Information
51
8.2 Petroliam Nasional Berhad (PETRONAS), Company Overview 51
8.3
Petroliam Nasional Berhad (PETRONAS), Business Description 51
8.3.1
Petroliam Nasional Berhad (PETRONAS), Business Description, Business Overview
51
8.3.2 Petroliam Nasional Berhad (PETRONAS), Business Description,
Exploration and Production Segment 52
8.3.3 Petroliam Nasional Berhad
(PETRONAS), Business Description, Gas Business Segment 53
8.3.4 Petroliam
Nasional Berhad (PETRONAS), Business Description, Logistics and Maritime
Segment 54
8.3.5 Petroliam Nasional Berhad (PETRONAS), Business
Description, Oil Business Segment 55
8.3.6 Petroliam Nasional Berhad
(PETRONAS), Business Description, Petrochemicals Segment 56
8.4 Petroliam
Nasional Berhad (PETRONAS), Value Chain Analysis 57
8.4.1 Petroliam
Nasional Berhad (PETRONAS), Value Chain Analysis, Upstream 58
8.4.2
Petroliam Nasional Berhad (PETRONAS), Value Chain Analysis, Midstream 58
8.4.3 Petroliam Nasional Berhad (PETRONAS), Value Chain Analysis, Downstream
59
8.4.4 Petroliam Nasional Berhad (PETRONAS), Value Chain Analysis,
Retail 60
8.5 Petroliam Nasional Berhad (PETRONAS), SWOT Analysis 61
8.5.1 Petroliam Nasional Berhad (PETRONAS), SWOT Analysis, Overview 61
8.5.2 Petroliam Nasional Berhad (PETRONAS), SWOT Analysis, Strengths 62
8.5.3 Petroliam Nasional Berhad (PETRONAS), SWOT Analysis, Weaknesses 62
8.5.4 Petroliam Nasional Berhad (PETRONAS), SWOT Analysis, Opportunities
63
8.5.5 Petroliam Nasional Berhad (PETRONAS), SWOT Analysis, Threats
64
8.6 Petroliam Nasional Berhad (PETRONAS), Revenue Analysis 65
8.6.1
Petroliam Nasional Berhad (PETRONAS), Revenue by Segment 65
8.6.2
Petroliam Nasional Berhad (PETRONAS), Revenue by Geography 66
8.7
Petroliam Nasional Berhad (PETRONAS), Financial and Operational Review 67
8.7.1 Financial Statements 67
8.7.2 Financial Ratios 68
9 Profile of
Total S.A. 69
9.1 Total S.A., Key Information 69
9.2 Total S.A.,
Company Overview 69
9.3 Total S.A., Business Description 69
9.3.1
Total S.A., Business Description, Business Overview 69
9.3.2 Total S.A.,
Business Description, Chemicals 70
9.3.3 Total S.A., Business Description,
Downstream 71
9.3.4 Total S.A., Business Description, Upstream 72
9.3.5 Total S.A., Business Description, Major Products and Services 73
9.4
Total S.A., Value Chain Analysis 75
9.4.1 Total S.A., Value Chain
Analysis, Upstream 75
9.4.2 Total S.A., Value Chain Analysis, Midstream
76
9.4.3 Total S.A., Value Chain Analysis, Downstream 77
9.4.4 Total
S.A., Value Chain Analysis, Retail 77
9.5 Total S.A., SWOT Analysis 78
9.5.1 Total S.A., SWOT Analysis, Overview 78
9.5.2 Total S.A., SWOT
Analysis, Strengths 79
9.5.3 Total S.A., SWOT Analysis, Weaknesses 80
9.5.4 Total S.A., SWOT Analysis, Opportunities 81
9.5.5 Total S.A., SWOT
Analysis, Threats 82
9.6 Total S.A., Revenue Analysis 83
9.6.1 Total
S.A., Revenue by Segment 83
9.6.2 Total S.A., Revenue by Geography 83
9.7 Total S.A., Financial and Operational Review 85
9.7.1 Financial
Statements 85
9.7.2 Financial Ratios 86
10 Profile of Chevron
Corporation 87
10.1 Chevron Corporation, Key Information 87
10.2
Chevron Corporation, Company Overview 87
10.3 Chevron Corporation,
Business Description 87
10.3.1 Chevron Corporation, Business Description,
Overview 87
10.3.2 Chevron Corporation, Business Description, Chemicals
88
10.3.3 Chevron Corporation, Business Description, Downstream Segment
89
10.3.4 Chevron Corporation, Business Description, Others Segment 90
10.3.5 Chevron Corporation, Business Description, Upstream Segment 91
10.4
Chevron Corporation, Value Chain Analysis 93
10.4.1 Chevron Corporation,
Value Chain Analysis, Upstream 93
10.4.2 Chevron Corporation, Value Chain
Analysis, Midstream 94
10.4.3 Chevron Corporation, Value Chain Analysis,
Retail 95
10.4.4 Chevron Corporation, Value Chain Analysis, Power
Generation 96
10.4.5 Chevron Corporation, Value Chain Analysis,
Transformation 96
10.5 Chevron Corporation, SWOT Analysis 97
10.5.1
Chevron Corporation, SWOT Analysis, Overview 97
10.5.2 Chevron
Corporation, SWOT Analysis, Strengths 98
10.5.3 Chevron Corporation, SWOT
Analysis, Weaknesses 99
10.5.4 Chevron Corporation, SWOT Analysis,
Opportunities 100
10.5.5 Chevron Corporation, SWOT Analysis, Threats
101
10.6 Chevron Corporation, Revenue Analysis 102
10.6.1 Chevron
Corporation, Revenue by Segment 102
10.6.2 Chevron Corporation, Revenue by
Geography 103
10.7 Chevron Corporation, Financial and Operational Review
104
10.7.1 Financial Statements 104
10.7.2 Financial Ratios 105
11
Financial Deals Landscape 106
11.1 Detailed Deal Summary 106
11.1.1
Partnerships 106
11.1.2 Asset Transactions 107
12 Recent Developments
111
12.1 License Awards 111
12.1.1 Jun 20, 2008: PTTEP To Sign HOA
With Myanmar To Develop M9 Gas Field 111
12.2 Strategy and Business
Expansion 111
12.2.1 Jan 16, 2009: PTTEP Establishes New Subsidiary In
Myanmar 111
12.2.2 Sep 09, 2008: MGOE And Nobel To Jointly Explore Oil And
Gas In Myanmar 111
12.2.3 May 28, 2008: Daewoo To Cooperate With CNODC In
Developing Myanmar Gas Field 112
12.2.4 Mar 31, 2008: Petronas, CNPC In
Talks To Explore Myanmar Blocks 113
12.2.5 Mar 18, 2008: Daewoo Makes A
Move On Myanmar Gas 114
12.3 Drilling and Production Updates 115
12.3.1 Mar 23, 2009: Myanmar Oil & Gas Begins Drilling In Northern Rangoon,
Myanmar 115
12.3.2 Feb 19, 2009: China Oilfield Services Commences
Drilling At Shwe Tha Htay-1 Well In Myanmar 115
12.3.3 Jan 20, 2009:
Interra Provides Indonesia And Myanmar Drilling Update 116
12.3.4 Jan 14,
2009: PTTEP Provides Drilling Results Of Janaka-2 Well In M3 Block, Myanmar
117
12.3.5 Dec 03, 2008: PTTEP Updates On Janaka-1 Well In M7 Block In
Myanmar 117
12.3.6 Oct 09, 2008: Interra Commences Drilling On Yenangyaung
3232 Well In Myanmar 118
12.3.7 Sep 10, 2008: Interra Commences Drilling
At Yenangyaung 3233 Well In Yenangyaung Oil Field, Myanmar 118
12.3.8 Jul
09, 2008: Essar To Drill Gas Well At Inland Block In Myanmar 119
12.4
Other Significant Developments 120
12.4.1 Mar 27, 2009: China And Burma
Sign Contract To Construct Cross Border Oil And Gas Pipelines 120
12.4.2
Jan 30, 2009: Interra Provides 2008 Operational Update 120
12.4.3 Nov 10,
2008: Daewoo Suspends Oil And Gas Exploration In Bay Of Bengal 121
12.4.4
Sep 22, 2008: Construction At Burma-Thailand Gas Pipeline Set To Commence
122
12.4.5 Aug 06, 2008: GAIL To Spend INR7.69 Billion On Oil And Gas
Exploration In India And Abroad 123
12.4.6 Aug 04, 2008: ASEAN Nations To
Negotiate Gas Network Expansion 123
12.4.7 Jun 30, 2008: ONGC, GAIL Shares
In Two Offshore Myanmar Blocks Fall 125
12.4.8 Jun 18, 2008: India, Burma
Raise Objections On Bangladesh Licenses 125
12.4.9 Apr 03, 2008: Petronas
Finds Two Ruptures In Myanmar Gas Pipeline 128
12.4.10 Mar 10, 2008:
China, Myanmar Still Discussing Construction Of Proposed Pipeline 128
13
Appendix 129
13.1 Methodology 129
13.1.1 Coverage 130
13.1.2
Secondary Research 131
13.1.3 Primary Research 131
13.1.4 E&P
Forecasts 131
13.1.5 Midstream Forecasts 133
13.1.6 Expert Panel
Validation 133
13.2 Contact Us 133
13.3 About GlobalData 133
13.4
Disclaimer 134
1.1 List of Tables
Table 1: Myanmar, Historical
and Forecasted Production and Consumption of Crude Oil, 1996-2020 13
Table
2: Myanmar, Historical and Forecasted Import of Crude Oil 1996-2020 15
Table 3: Myanmar, Historical Reserves of Crude Oil, 1996-2008 17
Table
4: Myanmar, Crude Oil and Natural Gas, Production bonus, Onshore Under PSC,
2007 20
Table 5: Myanmar, Crude Oil and Natural Gas, Production bonus,
Offshore Under PSC, 2007 21
Table 6: Myanmar, Crude Oil and Natural Gas,
Production bonus, Under IPR contracts, 2007 21
Table 7: Myanmar, Crude Oil
and Natural Gas, Training fee, Under PSC, 2007 22
Table 8: Myanmar, Crude
Oil and Natural Gas, Training fee, Under IPR contracts, 2007 22
Table 9:
Myanmar, Crude Oil, Onshore Profit Oil, Under PSC, 2007 23
Table 10:
Myanmar, Crude Oil, Offshore Profit Oil, Under PSC, 2007 23
Table 11:
Myanmar, Natural Gas, Onshore Profit Gas, Under PSC, 2007 23
Table 12:
Myanmar, Natural Gas, offshore Profit Gas, Under PSC, 2007 24
Table 13:
Myanmar, Crude Oil, Profit Oil, Under IPR contracts, 2007 24
Table 14:
South Asia, Investment Benchmarking, Overall Country Rankings, April 2008
27
Table 15: South Asia, Investment Benchmarking, Upstream Fiscal
Attractiveness, April 2008 28
Table 16: South Asia, Investment
Benchmarking, Oil Sector Performance, 2008 30
Table 17: South Asia,
Investment Benchmarking, Economic Performance, April 2008 34
Table 18:
South Asia, Country Standings, Economic Performance, April 2008 35
Table
19: South Asia, Investment Benchmarking, Socio-Political Performance, April
2008 37
Table 20: South Asia, Country Standings, Socio-Political
Performance, April 2008 37
Table 21: Myanmar, Crude Oil Key Statistics,
2008 39
Table 22: Myanmar, Total Gross Crude Oil Production (MMBBLs),
2001-2008 40
Table 23: Myanmar, Gross Crude Oil Production (MMBBLs), by
Assets, 2001-2008 41
Table 24: Myanmar, Gross Equity Weighted Crude Oil
Production (MMBBLs), by Company, 2001-2008 41
Table 25: Myanmar, Market
Share (%) based on Gross Equity Weighted Crude Oil Production, 2001-2008
42
Table 26: Myanmar, Gross Crude Oil Production (MMBBLs), Forecast by
Assets, 2009-2014 44
Table 27: Myanmar, Forecasted Assets-wise Gross
Revenue(000' $), 2009-2014 44
Table 28: Myanmar, Projected Assets-wise
Total Government Take (000' $), 2009-2014 44
Table 29: Myanmar, Projected
Assets-wise Total Contractor Take (000' $), 2009-2014 45
Table 30: Myanmar,
Pipeline Key Statistics, 2008 46
Table 31: Myanmar, Crude Oil Pipeline
Length by Company (Km), 2008 46
Table 32: Myanmar, Crude Oil Pipelines,
2008 47
Table 33: Myanmar, Refinery Key Statistics, 2008 48
Table 34:
Myanmar, Total Refining Capacity (MMTPA), 2000- 2013 48
Table 35: Myanmar,
Refining Capacity Company-wise (MMTPA), 2000-2013 49
Table 36: Myanmar,
Crude Distillation Unit Capacity (MMTPA), 2000-2013 50
Table 37:
Myanmar, Cocking Capacity (MMTPA), 2000-2013 50
Table 38: Petroliam
Nasional Berhad (PETRONAS), Key Facts 51
Table 39: Petroliam Nasional
Berhad (PETRONAS), SWOT Analysis 61
Table 40: Petroliam Nasional
Berhad (PETRONAS), Revenue by Segment, USD Million, 2004-2008 66
Table 41:
Petroliam Nasional Berhad (PETRONAS), Revenue by Geography, USD Million,
2004-2008 66
Table 42: Petroliam Nasional Berhad (PETRONAS),
Financial Statements, USD Million, 2004-2008 67
Table 43: Petroliam
Nasional Berhad (PETRONAS), Financial Ratios, USD Million, 2004-2008 68
Table 44: TOTAL S.A., Key Facts 69
Table 45: TOTAL S.A., SWOT
Analysis 79
Table 46: TOTAL S.A., Revenue by Segment, Euro Million,
2003-2007 83
Table 47: TOTAL S.A., Revenue by Geography, Euro
Million, 2003-2007 84
Table 48: TOTAL S.A., Financial Statements,
Euro Million, 2003-2007 85
Table 49: TOTAL S.A., Financial Ratios,
Euro Million, 2003-2007 86
Table 50: Chevron Corporation, Key Facts 87
Table 51: Chevron Corporation, SWOT Analysis 98
Table 52: Chevron
Corporation, Revenue by Segment, USD Million, 2003-2007 103
Table 53:
Chevron Corporation, Revenue by Geography, USD Million, 2003-2007 103
Table 54: Chevron Corporation, Financial Statements, USD Million, 2003-2007
104
Table 55: Chevron Corporation, Financial Ratios, USD Million,
2003-2007 105
Table 56: Myanmar Oil & Gas partners With Nobel Oil 106
Table 57: PTTEP Terminates Swap Agreement To Acquire 20% Interest In A4 And C1
Blocks From CNOOC 107
Table 58: CNOOC Myanmar Terminates Swap Agreement To
Acquire 20% Interest In M3 And M4 Blocks From PTTEP 108
Table 59: GAIL
(India) And Silver Wave Acquire Block A-7 From Myanmar Oil and Gas 109
Table 60: Korea Gas Acquires 10% Interest In A-3 Block From Daewoo
International 110
1.2 List of Figures
Figure 1: Myanmar, Energy
Sector break-up, 2008 11
Figure 2: Myanmar, Crude Oil Production And
Consumption, Thousand Barrels Per Day, 1996-2020 14
Figure 3: Myanmar,
Crude Oil Imports, Thousand Barrels Per Day, 1996-2020 16
Figure 4:
Myanmar, Crude Oil Reserves, Million Barrels, 1996-2008 17
Figure 5: South
Asia, Country Standings, Upstream Fiscal Attractiveness, April 2008 29
Figure 6: South Asia, Country Standings, Oil Sector Performance, by
Reserves-Exploration & Production, 2008 31
Figure 7: South Asia, Country
Standings, Oil Sector Performance, by Production-Consumption & Refining, 2008
32
Figure 8: South Asia, Country Standings, Exploration Blocks Awarded,
April 2008 33
Figure 9: South Asia, Country Standings, Economic
Performance, April 2008 35
Figure 10: South Asia, Country Standings,
Socio-Political Performance, April 2008 38
Figure 11: Myanmar, Crude Oil
Assets Map, 2008 39
Figure 12: Myanmar, Total Gross Crude Oil Production
(MMBBLs), 2001-2008 40
Figure 13: Myanmar, Gross Equity Weighted Crude Oil
Production (MMBBLs),by Company, 2001-2008 42
Figure 14: Myanmar, Market
Share (%) based on Gross Equity Weighted Crude Oil Production, 2008 43
Figure 15: Myanmar, Total Refining Capacity (MMTPA), 2000- 2013 49
Figure
16: Petroliam Nasional Berhad (PETRONAS), Value Chain Analysis 57
Figure
17: TOTAL S.A., Value Chain Analysis 75
Figure 18: Chevron
Corporation, Value Chain Analysis 93
Figure 19: GlobalData Methodology
130
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