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 […]

Offshore Upstream Activities Taking Shape in Myanmar, Slowly

The year-long process by Myanmar to formally conclude the award of 20 production sharing contracts (PSCs) offered in Offshore Bidding Round – 2013 is finally within sight and the remaining blocks are expected to be awarded soon. Despite the current industry downturn, arising from low oil prices which fell by over half since the second […]

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 […]

Offshore Contracts Signed, But Delays Abound

One of the 13 foreign companies to win offshore oil and gas exploration licences in March has announced it has finally negotiated a production-sharing contract with the state Myanma Oil & Gas Enterprise (MOGE). But an industry report said it could be the next decade by the time any new oil or gas is actually […]

UK’s Ophir Energy Signs PSC with Gov’t

UK-based oil and gas exploration firm Ophir Energy has signed a production sharing contract (PSC) with the Myanmar Ministry of Energy, finalising the award of the offshore Block AD-03 prospect. The company holds a 95 percent operated interest in the block, which is located in the Rakhine Basin. “The Block AD-03 PSC contains multiple mapped […]

Deutsche says Myanmar is “potentially exciting” frontier play

Offshore Myanmar, where Ophir Energy (LON:OPHR) this week staked its first non-African acreage, is a potentially exciting frontier play, according to Deutsche Bank. Analyst Lucas Herrmann highlights it has proven hydrocarbon potential both onshore and more recently via two gas developments, Schwe & Mya, in the shallow offshore. Ophir was among a group of major […]