Energy dilemma

Myanmar needs oil and gas revenue to spur its economy and new discoveries to feed its growing energy appetite, but low oil prices could bring cutbacks in exploration. Myanmar is bracing for a rougher ride after a few years of giddy economic expansion as foreign direct investment slows amid falling oil prices and global uncertainty. […]

Shell offshore survey to begin next month

The Anglo-Dutch firm and its Japanese partner Mitsui Oil Exploration signed production sharing contracts with Myanmar in February for blocks AD-9 and AD-11 in the Rakhine basin, and MD-5 in Tanintharyi basin. The firms won the blocks as part of the 2013 offshore bidding round, which saw 20 blocks won by several international companies. Graeme […]

Deutsche says Myanmar is “potentially exciting” frontier play

Offshore Myanmar, where Ophir Energy (LON:OPHR) this week staked its first non-African acreage, is a potentially exciting frontier play, according to Deutsche Bank. Analyst Lucas Herrmann highlights it has proven hydrocarbon potential both onshore and more recently via two gas developments, Schwe & Mya, in the shallow offshore. Ophir was among a group of major […]

Energy giants win Myanmar offshore oil and gas blocks

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 […]