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More oil and gas investments expected next year

U Thaung Tun, Union Minister for Investment and Foreign Economic Relations, is expecting foreign direct investments in the offshore oil and gas industry to increase in 2020, once proposals for exploration and production are received, evaluated and approved.

At the 30th regular meeting of the Private Sector Development Committee with Myanmar entrepreneurs on October 19, U Thaung Tun said he is expecting to receive “a record number of investments in oil and gas next year, especially offshore.”

Last week, U Zaw Aung, a retired director general of the Oil and Gas Planning Department under the Ministry of Electricity and Energy (MOEE), told The Myanmar Times that commercial gas production will commence at the A6 block Shwe Yee Htun-2 discovery, offshore Myanmar, in 2023. The development comes after the government on September 22 said gas could be produced at Shwe Yee Htun-2 well.

Source: Myanmar Times

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