Myanmar offshore exploration continues despite low oil prices

Myanmar authorities announced the latest offshore activities last week through state-run newspapers. International companies have now started surveys at almost half of all blocks awarded in the 2013 bidding round. Meanwhile, production remains steady at Myanmar’s existing offshore gas fields – Yadana, Yetagun, Shwe and Zawtika – officials said. France’s Total E&P Myanmar launched 2D […]

Shell begins review of BG Myanmar assets

Royal Dutch Shell has embarked on a detailed review of BG Group’s assets in Myanmar after the international oil giant completed a US$53 billion acquisition of its British rival on February 15. The two companies have been in discussions about the sale since 2014, but their Myanmar assets have not yet been combined, officials said. […]

BG Group and Woodside to start offshore exploration

BG Group will undertake 3D seismic surveys in blocks A-4 and AD-2 in the Rakhine basin off the western coast of Myanmar, starting from November 23. The company will conduct seismic campaigns using a Ramform Sovereign ship until the end of April 2016, according to the statement. Woodside Energy also will carry out 3D seismic […]

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 […]

Myanmar 2014/15 FDI swells to $8.1 bln – govt agency

(Reuters) – Foreign direct investment (FDI) into Myanmar has soared to more than $8 billion this fiscal year, $3 billion more than anticipated, owing to increased activity in the energy, manufacturing and telecoms sectors, a senior official said. The investments reflect growing if cautious foreign interest in one of Asia’s last remaining untapped markets, which […]