Interest high in MOGE’s offshore base

A Total of 52 local and international companies have shown interest to partner with Myanma Oil and Gas Enterprise (MOGE) to develop a base for resupplying offshore oil and gas businesses.

State-owned MOGE invited companies interested in the venture to Nay Pyi Taw to submit proposals between May 25 and June 12. It announced the list of 52 contenders on June 22.

“The interest of private companies has been very high,” said MOGE general manager U Kyaw Nyan Tun. “We are meeting them to learn their capabilities, as we need a new supply base.”

The interested companies come from Myanmar, as well as Australia, Brunei, China, Indonesia, Japan, Malaysia, Netherlands, Saudi Arabia, Singapore, Thailand, UK, US and Vietnam.

The companies are now to meet with MOGE to discuss whether they are capable of the job.

“Regarding our meetings with these companies, no everyone is qualified. Some companies do not have enough experience or the financial capabilities, or technology,” said U Kyaw Nyun Tun. “We will ask them to submit detailed proposals for the project through a tender process. It is likely to happen at the end of July.”

The selected private company will be tasked with developing land for use of a supply base in the promising areas of the country. There is expected to be a rapid increase in demand for supply services following the signing of 19 production sharing contracts for offshore oil and gas blocks earlier this year. A total of 13 international oil and gas companies are expected to start seismic acquisition campaigns at the end of the year, and are now running their environmental and social impact assessment surveys, an officials said.

Currently, Myanmar has only one state-owned offshore supply base, located in Yangon. The Ministry of Energy, MOGE’s parent government ministry, is keen to develop new bases to provide offshore services.

Experts said that Yangon, Dawei in Tanintharyi Region, Pathein in Ayeyarwady Region, Mon State and Rakhine State are all possible homes of offshore supply bases, though the ministry has not yet specified the locations it is interested in.

“There is huge potential in the offshore oil and gas sector. A lot of local and international companies are going to be busy with the partners and contractors for the awarded oil operations,” said a separate MOGE official, who requested anonymity as he is not cleared to speak to the media.


Source: Myanmar Times

NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, “Puma Energy”, “MOGE”, “yangon new town”,”MECTEL”, “hydropower”, etc.

 Opportunities from COVID19


Looking for foreign investors to invest in your business in Myanmar