Myanmar is advancing its offshore natural gas exploration with production anticipated to commence by the end of 2027, officials confirmed following recent discussions between regional leaders and project developers.

On May 29, U Myat Ko, Speaker of the Taninthayi Region Hluttaw, met with representatives from CFG Energy Pte Ltd to review the progress of the offshore gas initiative, including updates on Environmental Impact Assessment (EIA), Social Impact Assessment (SIA), and related regional development plans.

The project, centered on the M-15 block located in Myeik District of southern Taninthayi Region, represents the country’s first deepwater gas development. The block covers more than 13,000 square kilometers west of Kadan Island, Myanmar’s largest island, and is estimated to contain natural gas reserves of up to one trillion cubic meters.

A production sharing agreement has been established between CFG Energy Pte Ltd, a Singapore-based affiliate of the Canadian Foresight Group (CFG), and the Myanmar Oil and Gas Enterprise (MOGE), under which CFG holds the operational rights to the offshore block. According to project timelines discussed, drilling activities are expected to begin by the end of this year, setting the stage for production start-up in 2027.

The M-15 block was first formalized through a Production Sharing Contract (PSC) signed in March 2015 between CFG and MOGE. Upon successful completion, the project is projected to be a significant contributor to Myanmar’s social and economic development, offering new revenue streams and enhancing energy resources.

Efforts are ongoing to ensure that environmental and social concerns are addressed through the EIA and SIA processes, reflecting an emphasis on sustainable development alongside energy production. The collaboration between regional authorities and CFG Energy aims to promote responsible resource management while supporting local communities in the Taninthayi Region.