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Posco Daewoo to invest $94.2 mn for gas well development in Myanmar

Posco Daewoo Corp., the energy development unit of South Korean steelmaker Posco, will develop new subsea wells for stable gas production near its offshore production base in the A-3 block in Myanmar with an investment of $94.2 million. Drilling of three new wells will start in the first quarter of 2020, the company announced Monday. […]

Rosneft to Close $10 bn Essar Oil, Vadinar Refinery Deal in a Few Weeks

​​ Russian oil major Rosneft on Wednesday said that the company will close $10.9 billion (Rs 72,800 crore) acquisition of Essar Oil and Vadinar refinery within a few weeks. “We are closing the deal of Essar Oil and Vadinar refinery within a few weeks,” said a Rosneft official, president and chairman of Rosneft told the media on the sidelines of Petrotech Summit in New Delhi. This will […]

India’s ONGC Videsh Signs Deal for Myanmar Onshore Blocks

India’s state-run oil and gas company ONGC Videsh Ltd (OVL) said it has signed Production Sharing Contracts (PSCs) for two blocks in Myanmar. The contracts were signed between OVL, Myanmar Oil & Gas Enterprises Ltd (MOGE), and the Indian firm’s local partners National Oil Company of Myanmar and Machine & Solutions Co Ltd (M&S). ONGC […]

MOGE Begins Long Process to Pick Myanmar’s Oil & Gas Investors

Subscribe to our tender alert mailing list Negotiations have finally begun to select foreign investors to explore for oil and gas in the seas off Burma’s coast, but it could be another eight months before any licenses are awarded. The Myanmar Oil & Gas Enterprise (MOGE) and the Energy Planning Department (EPD) will hold talks […]

Myanmar as Economic Miracle Hinges on Natural Gas Bounty: Energy

Myanmar’s opening to foreign investment has been compared to the fall of the Berlin Wall and the start of an economic growth story to emulate Vietnam. How those views pan out will be largely decided by natural gas. Exxon Mobil Corp. (XOM), Woodside Petroleum Ltd. (WPL) and Oil India Ltd. (OINL) are among 59 global […]