Myanmar current gov’t allows 38 offshore blocks for gas exploration tender

Myanmar’s current term of government has allowed 38 offshore blocks for tender for gas exploration, leaving 13 blocks for further undertaking, an official report said Wednesday.

There have been a total of 51 offshore blocks reserved for gas exploration tender.

In addition, there are also 53 onshore blocks designated for such undertaking.

According to the report, 17 companies are currently performing offshore natural gas drilling, while 19 other companies have been permitted to carry out similar activities on onshore blocks.

Oil companies are set to carry out oil and gas exploration along Myanmar’s coastline of Rakhine state and Tanintharyi region as well as the offshore region of Mottama. About 2 billion cubic feet of natural gas is being extracted every day, the report added.

Statistics show that foreign investment in Myanmar’s oil and gas sector amounted to 19.641 billion U.S. dollars as of the end of September 2015 since late 1988 when the country opened to such investment, accounting for 34.39 percent of the total and ranking the first largest sectorally in the country’s foreign investment line-up.

Source: Xinhua

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.