Myanmar Awards Offshore Oil and Gas Deals to Foreign Firms

YANGON — Myanmar’s Ministry of Energy on Wednesday announced that it has awarded international firms, mostly from Western nations, 20 areas in its waters to explore for oil and gas. The government has invited international firms to come in and help bolster state revenues by tapping into Myanmar’s oil and gas reserves, and large multinationals […]

Energy Giant Total likely to explore new blocks

French energy giant Total would consider developing new offshore blocks as economic reform continues to take hold in the country, an executive from the firm said. Total is currently awaiting the results for its bid for off-shore blocks submitted in two proposals that would see exploration of deep-water blocks. The results for the widely anticipated […]

Luxembourg invests in Myanmar river cruiser

YANGON – Abercrombie & Kent from Luxembourg has been granted licence to invest in a new river cruiser by the Myanmar Investment Commission on August 15. Luxembourg, which has not invested in Myanmar in 20 years, provided US$ 5.2 million in cruise liner and other business along Chindwin and Ayeyawady rivers, according to Directorate of […]

Duo of IP firms join Myanmar flood

Another two international firms have joined the growing rush into Myanmar, with UK IP firm Rouse and South East Asian firm Tilleke & Gibbins both expanding into the country. Rouse’s Myanmar office, based in Yangon, is the firm’s sixteenth location. Led by partner and Thailand country manager Fabrice Mattei, the office will offer filing and […]

Unlocking a ‘Sleeping Petroleum Giant’

YANGON — Potential investors at a hotel conference room in Yangon in September were invited to salivate over Myanmar’s geology. By all accounts, the maps and cross-section graphics on display indicate that the country is sitting on vast energy wealth. Although the exact quantities of hydrocarbons are unknown, “it can be envisaged as a sleeping […]

Japan’s World Novi to invest in Myanmar’s auto market

Japan-based World Novi Company will invest in Myanmar’s auto market, according to Directorate of Investment and Companies Administration (DICA). The World Novi Company works in car import and export business and related machine parts by connecting the Japanese private banks such as Bank of Tokyo-Mitsubishi UFJ Ltd, Mizuho Bank Ltd, Sumitomo Mitsubishi Banking Corporation and […]