Korea’s Posco and U.S. Firm McDermott Sign Deal for Gas Project

South Korea’s Posco International Corp. recently signed a front-end engineering design (FEED) contract with U.S. energy firm McDermott for the third-stage project of the Shwe gas field development. The agreement covers increasing production at Shwe and Shwe Phyu gas fields in A-1 block and Mya field in the offshore A-3 block as well as designs […]

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

Subscribe to our tender alert mailing list 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 […]

Myanmar high on energy

Long-term outlook in oil & gas exploration is intact despite global oil price woes Some players in Myanmar’s oil and gas industry are optimistic that oil and gas exploration and production activities in the country would continue as expected, despite oil prices slumping to five-year lows. The local industry will thrive due to low output […]

MIC approves more firms for onshore oil and gas exploration

The Myanmar Investment Commission has given approval to more than 15 new oil and gas companiesto invest in onshore blocks in Myanmar since July. All have signed production-sharing contractswith the government. The firms include foreign and local companies, and the exploration blocks are located in six states and regions: Mon, Kayin, Taninthayi, Bago, Sagaing and […]