Myanmar Onshore tender winners announced

The Ministry of Energy announced the winning bidders of a tender for 18 onshore oil and gas blocks at a press event in Nay Pyi Taw on October 10.

Winners included British Virgin Island-registered MPRL E&P, owned by Myanmar tycoon U Moe Myint, ONGC Videsh from India, Eni from Italy, Malaysia’s Petronas Carigali, Pacific Hunt Energy Corporation from Canada, JSOC Bashneft from Russia and Thailand’s PTTEP.

The tender was opened in January with 59 companies passing prequalification requirements, it was announced in April after a month-long tender evaluation committee assessed the bids.

After the prequalification round, a total of 26 international companies submitted 54 final proposals for 16 onshore blocks before the August 23 deadline, said U Pe Zin Tun, director general of the Energy Planning Department under the Ministry of Energy.

However, in what was widely viewed as a lack of confidence in the bidding process, Minister for Energy U Than Htay and his deputy, U Htin Aung, were removed from their posts just before the submission deadline.

“We have discussed the data overview of onshore blocks, as well as the terms and conditions of final proposals, Production Sharing Contracts (PSC) for new oil and gas fields and Improved Petroleum Recovery Contracts (IPR) for old oil fields with pre-qualified listed companies over the past three months,” U Pe Zin Tun said.

MPRL collected blocks IOR-4 and IOR-6, both old oil fields in Pyay (Bago Region) and (Myanaung, Ayeyarwady Region), while Petronas Carigali will farm the IOR-7 block in Shwepyithar township; all IOR fields are improved recovery contracts.

“We are going to further discuss PSC and IPR agreements with these companies,” U Pe Zin Tun said. “The selected companies must still do environmental and social impact assessments, including corporate social responsibility programs, within six months of signing an agreement, which will probably happen in November or early December.”

Source: Mizzima News

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”, "Dagon City", “MOGE”, “yangon stock exchange”,"MECTEL", "hydropower", etc.

To learn about the business opportunities in Myanmar click here

To evaluate the various segments of the market that you could possibly enter base on your competencies you can do a Custom Market Entry Strategy Research. You can see a sample report at page "Actual Sample of Client Report”. Click here to go to page.

Do you know that IE Singapore is giving up to SGD 20,000 support for Singapore company to venture into Myanmar? To learn more click here