MIC provides permits for two more international oil companies

The Myanmar Investment Commission has given permits to two more international companies planning to conduct offshore exploration and production.

The UK’s BG Exploration and Production and Australia’s Woodside Myanmar received the right to conduct exploration and production in shallow water blocks A-4 and A-7, and deepwater blocks AD-2 and AD-5.

The two firms are partnering with local companies Myanmar Petroleum Exploration and Production, and still need to sign Production Sharing Contracts before exploration can begin.

A total of nine international firms that participated in the 2013 offshore bidding have now received permits, while five have signed Production Sharing Contracts.

Source: MyanmarTimes

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