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The oil and gas resources development, the main growth driver of POSCO INTERNATIOAL, is conducted essentially across the globe, including Myanmar gas fields that carried out all stages of Exploitation & Production (E&P) from exploration, development and production to sales as well as Block 11-2 in Vietnam, Block 8 in Peru and the Donghae-2 gas fields in Korea.
Myanmar Gas Fields
The Largest Overseas Oil & Gas Development Project to Date by a Korean Private Enterprise
After signing a Production Sharing Contract (PSC) for the Block A-1 offshore western Myanmar in 2000, the discovery of Shwe in 2004, Shwe Phyu in 2005, and Block A-3 Mya in 2006 was successful. Myanmar Gas Field is the largest one among overseas gas fields discovered by Korean private enterprises, after about 13 years of efforts to produce the first gas in June 2013. The gas produced in the Shwe, Shwe Phyu and Mya gas fields supplies an average of approximately 500 million standard cubic feet of gas per day (MMscfd) to Myanmar and China through a 793km-long onshore gas pipeline to the Myanmar-China border.

To secure additional gas production, the second phase of the development project was carried out with the start of Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) in July 2018. The drilling and completion of the production well and the offshore installation were completed in August 2022, then gas production is since stable.

In February 2021, as part of the third phase of the development project, EPCIC was started to install a gas LP (Low Pressure) Compression Platform for low-pressure gas production in the reservoir, and it will be installed in offshore Myanmar by 2024.
Participating Year
2000 (First gas in June 2013)
51% (Operator)
Participating Companies
ONGC Videsh Limited (Central Public Sector Enterprise [CPSE] of the Government of India), Myanma Oil and Gas Enterprise (MOGE), Gas Authority of India Ltd. (GAIL), and Korea Gas Corporation (KOGAS)
SENEX ENERGY from Australia
First step to stable expansion of E&P business and energy transition
We jointly acquired Senex Energy, an energy company in eastern Australia, with Hancock Energy in 2022 as a major shareholder with a 50.1% share.
Senex Energy located in Queensland is the fifth largest oil&gas company in Australia and owns two onshore producing gas fields (Atlas and Roma North) and two exploration fields (Artemis and Rockybar).

We are operating our gas fields with an optimal development plan to achieve stable expansion and sustainability.
In addition to our main business, we are closely cooperating with Senex Energy to achieve environmentally friendly energy projects such as green hydrogen production and carbon neutrality goals.
New Explorations
POSCO INTERNATIONAL is continuing its effort to expand the exploration activities in Asia and Oceania.
It is conducting a prospect evaluation with Petronas Carigali, a state-owned oil and gas company in Malaysia on the Block PM524, offshore Peninsular Malaysia.

Participating Year
November 2021
80% (Operator)
Participating Companies
Petronas Carigali (state-owned oil and gas company in Malaysia)
It has conducted a Joint Study with Indonesia state-owned oil and gas company Pertamina in the Bunga region off the eastern coast of Java, Indonesia, and will continue establishing a long-term strategic partnership with Pertamina in the E&P business by securing the exploration licences of Bunga Block.

Participating Year
June 2021
50% (Operator)
Participating Companies
PHE(Pertamina Hulu Energi, 100% subsidiary company of Pertamina)