Ministry scrambles after leaking offshore bidding news

The Ministry of Energy called an emergency meeting yesterday after an unnamed official told state newspaper Myanma Alinn that bidding rounds for oil and gas blocks would be announced next year. “In 2016, we will announce bidding rounds for 26 oil and gas blocks including onshore and offshore. The future bidding rounds are aiming to […]

Approved investment spikes in April with oil and gas projects

pproved Foreign Direct Investment approvals jumped in April on the back of significant declared investment in the oil and gas industry, according to statistics. A total of US$2.2 billion worth of declared investments were approved in April, with more than $2 billion of that from the oil and gas sector. The government has targeted $6 […]

No more bidding on oil and gas blocks planned until at least 2016, says senior MOGE official

Myanmar Oil and Gas Enterprise (MOGE) will not launch any new onshore or offshore bidding rounds this year, and will focus instead on the development of recently contracted blocks, the state-owned enterprise said last week. “We are not going to launch any more bidding until 2016, as previous bidding rounds are still ongoing. In the […]

UK govt promotes Myanmar oil and gas opportunities

The British government has just released a report championing the good opportunities for British companies interested in investing in Myanmar’s oil and gas sector. “Opportunities for British companies in Myanmar’s oil and gas sector” is a 16-page report published January 9 by the UK Trade and Investment department. The report claims Myanmar is “one of […]

MIC confirms disputed tax on FDI

The Myanmar Investment Commission (MIC) has confirmed the corporate income tax rate stands at 25 percent for companies registered under the Myanmar Companies Act or Myanmar Foreign Investment Law (FIL). The statement follows several months of discussion between various government ministries that corporate rates for some projects such as offshore oil and gas ought to […]

Oil block announcements on the way

After three months of waiting, the winners in the offshore oil and gas bidding competition are finally set to be announced next month, the Ministry of Energy said. U Htay Aung, the ministry’s chief staff officer, told The Myanmar Times on February 19 that the choice would be announced before the fiscal year ends on […]

Myanmar Onshore tender winners announced

Subscribe to our Tender Alert. We send out email alert of Tender and EOI as it happens. 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 […]