Myanmar upbeat about latest offshore round

Oil rigs29 November 2013, News Wires – Myanmar will prioritise new oil and gas developments for the domestic sector as the nation’s energy demand continues to grow, but is already looking to liquefied natural gas imports and unconventional energy sources for future supplies, its representative to the Asean Council on Petroleum (Ascope) has said.

The nation on 15 November received bids for the 2013 offshore licensing round.

While no details have yet been revealed, representative Myo Myint Oo, managing director of state player Myanmar Oil & Gas Enterprise, was upbeat about the round’s prospects as he reminded Ascope conference delegates of the success of earlier international bid exercises.

The first onshore licensing round in 2011 resulted in six companies being awarded a total of eight blocks, and subsequent awards have meant nine foreign players are now active in Myanmar, holding a total of 19 blocks.

The current bidding round comprises 19 deep-water and 11 shallow-water blocks. Operators have to team up with at least one local company approved by the Ministry of Energy for the shallow-water blocks, but will be going it alone on the deep-water tracts.

More than 60 companies, including industry heavy-hitters, had expressed interest in the 2013 offshore acreage offer and around 40 are thought to have ultimately bid, a response that seems to made the MOGE chief smile.

“Myanmar is open to the world,” he told the CEO summit at Ascope.


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