Major Projects

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.

Peru Block 8

Production

  • Participation : 1996
  • Equity : 11.67%
  • Acreage : 1,825 ㎢
  • Parties : Pluspetrol (Operator), Korea National Oil Corporation(KNOC), SK Innovation

Vietnam Offshore Block 11-2

Production

  • Participation : 1992 (Production started in December 2006)
  • Equity : 4.875%
  • Acreage : 691 ㎢
  • Parties : KNOC (Operator), LG International Corp., Daesung Industrial Co., Ltd., Hyundai Corporation, etc.

Oman LNG Plant

Production

  • Participation : 1997 (Started production in 2000)
  • Equity : 20% of KOLNG (1% of OLNG)
  • Capacity : 6.6MT/year
  • Parties : KOLNG Participation: KOGAS, Hyundai Corporation, Samsung C&T, SK Innovation

Canada Baptiste Tight Oil-Gas

Production

  • Participation : August 2013 (Completed drilling of 49 production wells as of October 2016)
  • Equity : 12.50%
  • Acreage : 12,320 acres
  • Parties : BELLATRIX (Operator), Devonian Fund

Korea Donghae-2 Gas Field

Production

  • Participation : 2014
  • Equity : 30%
  • Acreage : 7.6 ㎢
  • Parties : KNOC (Operator)

Korea Offshore Block 6-1C Continental Shelf

Exploration

  • Participation : Entry into exploration phase 2 in December 2016
  • Equity : 30%
  • Acreage : 2,710 ㎢
  • Parties : KNOC (Operator)

Bangladesh Offshore Block DS-12

Exploration

  • Participation : Signing of PSC and first entry into exploration phase 1 in March 2017
  • Equity : 100% (Operator)
  • Acreage : 3,560 ㎢

Myanmar Offshore Block AD-7

Exploration

  • Participation : 2007
  • Equity : 60% (Operator)
  • Acreage : 2,789 ㎢
  • Parties : WOODSIDE

Myanmar Offshore Block A-1/A-3

Exploration

  • Participation : A-1(2000), A-3(2004)
  • Equity : 51% (Operator)
  • Acreage : A-1(2,119 ㎢), A-3(3,441 ㎢)
  • Parties : MOGE(Myanmar Oil and Gas Enterprise), ONGC VIDESH(Oil and Natural Gas Corporation Videsh Limited), GAIL (India) Limited, KOGAS(Korea Gas Corporation)

Myanmar Onshore Pipeline

Production

  • Participation : Established SPC in June 2010 (Started gas transmission in December 2013)
  • Equity : 25.041%
  • Form of Business : Joint venture (SEAGP: South-East Asia Gas Pipeline)
  • Parties : CNPC(China National Petroleum Corporation,Operator), ONGC(Oil and Natural Gas Corporation Limited), MOGE(Myanmar Oil and Gas Enterprise), GAIL(Gas India Limited), KOGAS