Changes in a petroleum law in Myanmar could help the Southeast Asian country attract investment in to the oil and gas sector, while reducing the growing strain on depleting domestic oil and gas reserves, according to a report by Fitch Solutions Macro Research. With Myanmar among the few under-explored upstream markets in Asia and interest […]
No Further Bidding Round for PSC Blocks
June 7, 2017 by
There are no immediate plans to hold another bidding round for the oil and gas blocks in Myanmar, a senior official from the Ministry of Electricity and Energy (MOEE) told The Myanmar Times. “No plan has been made for a new bidding round. There isn’t any plan under arrangement on the management level,” he said. Bidding […]
ConocoPhillips and Statoil sign deal for deepwater block
May 5, 2015 by
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 […]
Offshore Contracts Signed, But Delays Abound
December 23, 2014 by
One of the 13 foreign companies to win offshore oil and gas exploration licences in March has announced it has finally negotiated a production-sharing contract with the state Myanma Oil & Gas Enterprise (MOGE). But an industry report said it could be the next decade by the time any new oil or gas is actually […]
Petronas executive keen on an Andaman Sea future
December 16, 2014 by
Malaysia’s state-owned energy firm Petronas is looking at new opportunities in Myanmar as part of a regional push, according to company senior executives. The firm has won four onshore blocks and intends to participate in future bidding rounds for offshore blocks, said Encik Sharbini Suhaili, vice president of Petronas Upstream International. “We are still looking […]
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 […]
Energy giants win Myanmar offshore oil and gas blocks
March 28, 2014 by
YANGON: Myanmar named energy giants Chevron, Shell and Total among the winners Wednesday of a landmark auction of offshore oil and gas exploration rights, pinning hope on its natural resources to drive economic growth. The country, left impoverished by nearly five decades of isolation under military rule, has been the subject of feverish interest by […]
