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 […]

Can Myanmar’s Natural Gas riches reel in serious investment?

After five decades of oil and gas exploration stagnation and mismanagement of natural resources under military rule, Myanmar (formerly Burma) in March elected its first non-military president since the 1962 coup, and if it all plays out right, it could open the floodgates for investment in this strategically vital oil and gas venue. On 15 […]

Can This Frontier Venue For NatGas Reel In Serious Investment?

After five decades of oil and gas exploration stagnation and mismanagement of natural resources under military rule, Myanmar (formerly Burma) in March elected its first non-military president since the 1962 coup, and if it all plays out right, it could open the floodgates for investment in this strategically vital oil and gas venue. On 15 […]

Energy dilemma

Myanmar needs oil and gas revenue to spur its economy and new discoveries to feed its growing energy appetite, but low oil prices could bring cutbacks in exploration. Myanmar is bracing for a rougher ride after a few years of giddy economic expansion as foreign direct investment slows amid falling oil prices and global uncertainty. […]

Canadian Foresight Group to Explore Tanintharyi Offshore Block

Canadian Foresight Group Pte Ltd, through its wholly owned subsidiary CFG Energy Pte Ltd along with its partners, has signed a production sharing contract (PSC) with the Myanmar Oil and Gas Enterprise (MOGE) for a shallow offshore block M15. The firm’s partners are TRG M15 Pte Ltd, part of the Transcontinental Group based in Western […]

Petronas executive keen on an Andaman Sea future

Malaysia’s state-owned energy firm Petronas is looking at new opportunities in Myanmar as part of a regional push, according to company senior executives. The firm has won four onshore blocks and intends to participate in future bidding rounds for offshore blocks, said Encik Sharbini Suhaili, vice president of Petronas Upstream International. “We are still looking […]

Malaysian Firms Eye Construction Prospects in Myanmar

YANGON — With its companies doing over US$1.6 billion worth of business in Myanmar, Malaysia was ranked as the seventh-biggest source of foreign investment into the country by the end of January 2014. And with Myanmar’s government touting big plans for upgrading infrastructure such as roads and railways, as well as building more houses for […]

PTTEP to invest US$3.3 billion in oil and gas

The Thai national oil giant PTTEP has announced that it will invest US$3.3 billion in Myanmar over the next five years. PTT Exploration and Production (PTTEP) held a press conference in Yangon on Tuesday where it outlined its drilling and exploring operations in Myanmar. “Zawtika is the biggest offshore among the PTTEP projects. We are […]

Myanmar Won’t Export New Gas Finds Until Domestic Needs Met, Says Official

New discoveries of natural gas or oil will not be exported until Myanmar’s own domestic demand is satisfied, a senior planner in the Ministry of Energy has disclosed. Confirmation of the decision comes as the ministry is set to name this month the winners of a major international auction for 30 offshore exploration licenses in […]

Scomi Energy still a ‘buy’

SCOMI ENERGY SERVICES BHD By Hong Leong Investment Bank Research Buy (maintained) Target price: RM1.02 SCOMI Energy Services Bhd has been awarded two contracts in Myanmar worth a combined RM90mil by Petronas. The contracts are from Petronas Carigali Myanmar Inc (PCMI) and Petronas Carigali Hong Kong Ltd (PCML) for the provision of drilling fluids, solid […]