Norway’s Statoil and US-based ConocoPhillips will invest more than US$300 million in the exploration and production of offshore oil and gas in Myanmar, according to an official from the Ministry of Energy (MOE). The two international oil companies signed a Production Sharing Contract (PSC) for deepwater block AD-10, located off Myanmar’s Rakhine coast, on April […]
MIC gives nod to last foreign oil firms
March 26, 2015 by
The last international oil companies that must still sign Production Sharing Contracts with Myanma Oil and Gas Enterprise have now received permission from Myanmar Investment Commission, a statement said yesterday. International oil firms have been signing the Production Sharing Contracts – which govern exploration and production activities – since December, following a bidding round for […]
Italy’s Eni signed 2 Production Sharing Contract with Ministry of Energy
August 4, 2014 by
Italian energy firm Eni, following its participation in the heavily-contested international bidding for Myanmar’s onshore blocks, signed two Production Sharing Contracts (PSC) with the Ministry of Energy for RSF-5 and PSC-K onshore blocks in Nay Pyi Taw last week. The joint venture is between Eni, with a 90 percent participating interest through Eni Myanmar BV, […]
Myanmar Awards Offshore Oil and Gas Deals to Foreign Firms
March 31, 2014 by
YANGON — Myanmar’s Ministry of Energy on Wednesday announced that it has awarded international firms, mostly from Western nations, 20 areas in its waters to explore for oil and gas. The government has invited international firms to come in and help bolster state revenues by tapping into Myanmar’s oil and gas reserves, and large multinationals […]
Deutsche says Myanmar is “potentially exciting” frontier play
March 31, 2014 by
Offshore Myanmar, where Ophir Energy (LON:OPHR) this week staked its first non-African acreage, is a potentially exciting frontier play, according to Deutsche Bank. Analyst Lucas Herrmann highlights it has proven hydrocarbon potential both onshore and more recently via two gas developments, Schwe & Mya, in the shallow offshore. Ophir was among a group of major […]
Competition intensifies for Myanmar’s offshore oil blocks
August 20, 2013 by
Competition to win the contract to operate 30 offshore oil blocks in Myanmar coastal regions has intensified among Chinese, Indian and other global oil companies, said an industry observer. State-owned Myanmar Oil and Gas Enterprise (MOGE) has recently announced a list of international firms shortlisted for the tender of 30 offshore blocks- 11 in shallow […]
Foreign investors can own 100% of Offshore Deep Water Oil & Gas Blocks
April 18, 2013 by
Subscribe to our tender alert mailing list On 10th April 2013 the Myanmar Ministry of Energy issued an announcement launching the long-awaited auction of 30 offshore blocks of oil and gas exploration on production sharing basis. For the 11 shallow water blocks – foreign investors must partner with local Burmese companies. For the 19 deep […]
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