ConocoPhillips and Statoil sign deal for deepwater block

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 […]

China’s rivals catching up in investment race in Myanmar

Although China remains the biggest foreign investor in Myanmar, investments from other countries are quickly catching up in the Southeast Asian nation, which was once a pariah in the international community. This was demonstrated in the energy and telecommunications sectors, where Myanmar has awarded licences and contracts to companies from several nations, but none as […]