150 local companies registered to do oil and gas business with foreign firms

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Over 150 Myanmar companies, including Shwe Taung, Edin and IGE, Kanbawza, A-1, Tarmoenye Chantha, have been registered in the Ministry of Energy to cooperate with foreign firms that will invest in the oil and natural gas sector, according to the Ministry.

The Ministry of Energy offered tenders 18 inland blocks of oil and gas in January of this year. Last year, the ministry invited competitive bidding for 18 blocks of oil and gas as the first time and 37 firms from 18 countries submitted the proposals.
Among them, the ministry granted permission to eight companies joining hands with the local firms.

Moreover, the ministry doesn’t need to apply for import and export licenses for oil and gas enterprises, according to the Ministry of Commerce.

The ministry on July 4 announced 60 tentatively-selected lists to carry out in 30 blocks of Myanmar’s offshore and inshore areas, including world famous companies like MPRL E & P Pte Ltd owned by Myanmar Citizen Michel Moe Myint.
At present, there are two offshore oil and gas projects named Yadana and Ye Dagun operating with foreign investment.

Last month, Myanmar exported natural gas exploited from Shwe Natural Gas Project to China and will also sell gas from Zawtika Project to Thailand at the end of this year.

Source: Eleven

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