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Five business sectors that are looking interesting in 2019

Businesses did not have a positive outlook on the Myanmar business sector last year with falling confidence and firms pulling out of Myanmar. However, with the arrival of a new year, things seem to be looking more optimistic for some sectors. Our reporters have interviewed insiders and experts from five business sectors on their views […]

Changes in petroleum law could give Myanmar a boost in oil and gas investments

Changes in a petroleum law in Myanmar could help the Southeast Asian country attract investment in to the oil and gas sector, while reducing the growing strain on depleting domestic oil and gas reserves, according to a report by Fitch Solutions Macro Research. With Myanmar among the few under-explored upstream markets in Asia and interest […]

North Petro Chem Corporation Ltd of China exploring gas field in Ngahlaingtwin area

Deputy Minister for Electricity and Energy Dr. Tun Naing described joint oil and gas exploration and production projects between Myanma Oil & Gas Enterprise (MOGE) and North Petro Chem Corporation Ltd of China to yesterday’s meeting of the Amyotha Hluttaw. The deputy minister said North Petro Chem Corporation Ltd signed a PSC with MOGE for […]

No Further Bidding Round for PSC Blocks

There are no immediate plans to hold another bidding round for the oil and gas blocks in Myanmar, a senior official from the Ministry of Electricity and Energy (MOEE) told The Myanmar Times. “No plan has been made for a new bidding round. There isn’t any plan under arrangement on the management level,” he said. Bidding […]

Posco Daewoo assigned for deep sea gas exploration in Bay of Bengal

State-owned Petrobangla on Tuesday entered into the final deal with Posco Daewoo International Corporation to award it the deep sea (DS) gas block -12 in the Bay of Bengal for hydrocarbon exploration. Under the deal, the South Korean oil major will invest between $60-120 million in the next five years for conducting 2D and 3D […]

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 […]

UK’s Ophir Energy Signs PSC with Gov’t

Subscribe to our tender alert mailing list 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. […]

Offshore block winners announced

The Ministry of Energy today announced the winners of the highly anticipated tender to explore gas and oil in 20 offshore blocks, a list that includes several global firms including Royal Dutch Shell, US-based ConocoPhillips and France’s Total. Myanmar Oil and Gas Enterprise (MOGE) invited tenders for 30 offshore blocks in April, attracting interest from […]

Sweeping changes to Myanmar mining laws planned

Myanmar’s 1994 mining law is set for a major overhaul that could transform as much as 70% of current legislation, government officials from the Asian nation said on Sunday. Mostly undeveloped, Myanmar also known as Burma is home to vast reserves of oil and gas and minerals and metals, including gold, tungsten, copper, nickel, tin, […]

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 […]