Singapore based company SNOG Pte. signed a production sharing agreement with the Government of Myanmar for exploration and development of oil shale in the area of 2924 square. km. The contract for exploration was signed with "TTU-Ltd"
During 2011-2012 the exploration work was commissioned by "TTU-Ltd" using there innovative ultra wide band electro magnetic impulse sounding method (UWB EMI). 300 soundings was done to the depth of 200 meters on the area of 1142 square miles (2924 sq. km.). 25 boreholes was drilled by Longkou Mining Group to the depth 100-120 meters on a promising area of 4 square miles (10 sq. km.) inside of total area. The reserves were estimated for the allocated block and the 3D model of the deposit was built together with the material heat balances for processing oil shale into UTT-3000 installations (Solid Heat Carrier) using Galoter method. Preliminary feasibility evaluation was done for processing of 4 m. ton of raw oil shale per year producing 4300 barrels of shale oil a day and 52 mW of electricity. Evaluation shows the high efficiency of the project, investment of $ 350 million will be repaid in five years, IRR -25%. The average oil yield 69 liters from one tone of oil shale.