Foreign firms sign more oil exploration deals with Myanmar

YANGON, Dec. 6 (Xinhua) — Three Indian companies reached more production-sharing contracts with Myanmar on cooperation in offshore oil and natural gas exploration in Nay Pyi Taw over the last two days.

Under the contracts, the Oil India Ltd, Mercator Petroleum Ltd, Oilmax Energy Pvt Ltd of India and Oil Star Management Service Co Ltd of Myanmar as well as state-run Myanma Oil and Gas Enterprise, oil and gas exploration will be carried out at Mottama offshore M- 4 block and Taninthayi offshore YEB block.

The companies will spend 120.9 million U.S. dollars in one year observation period and six months exploration period for the two blocks.

According to official statistics, total foreign investment in Myanmar’s oil and gas sector amounted to 15.18 billion U.S. dollars as of October, or 30.22 percent of the total foreign investment, which is the second largest in Myanmar’s foreign investment line-up after electric power.

Source: GlobalPost

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

If you are interested to be listed in our Service Provider Directory as a supplier of services or products that we can use to match with the needs of our clients in Myanmar please fill up the online form by clicking here