Will Myanmar’s government cancel Woodside Petroleum Limited’s contracts?

Woodside Petroleum Limited’s (ASX: WPL) dealings with the brutal Myanmar government appear to be getting murkier.The energy company has been touting the prospective lucrative returns it hopes to gain from its investment in Myanmar. “Woodside is one of the largest offshore petroleum acreage holders in Myanmar,” according to the company’s website “Collectively, our nine permits […]

$50m Offshore Oil and Gas Supply Base in Ayeyarwaddy Gets Go-Ahead

The Myanmar In­vestment Com­mission (MIC) has green-lighted a $50 mil­lion proposal to build an offshore oil and gas sup­ply base in Ayeyarwaddy Division. The facility at Nga Yoke Kaung Bay would provide berths for construction and supply vessels, ware­houses, cranes and lift­ing equipment, helicopter rescue facilities and oil spill equipment and will play a crucial […]

Shell begins review of BG Myanmar assets

Royal Dutch Shell has embarked on a detailed review of BG Group’s assets in Myanmar after the international oil giant completed a US$53 billion acquisition of its British rival on February 15. The two companies have been in discussions about the sale since 2014, but their Myanmar assets have not yet been combined, officials said. […]

BG Group and Woodside to start offshore exploration

BG Group will undertake 3D seismic surveys in blocks A-4 and AD-2 in the Rakhine basin off the western coast of Myanmar, starting from November 23. The company will conduct seismic campaigns using a Ramform Sovereign ship until the end of April 2016, according to the statement. Woodside Energy also will carry out 3D seismic […]

ANZ and Woodside lead the investment in Myanmar

It’s closing in on midnight when our taxi pulls up outside a run-down apartment block on the edge of central business district of Myanmar’s commercial hub and former capital Yangon. The attendant lounging on a chair out front, shows us up a short flight of stairs to the entrance; down the end of the corridor, […]

Woodside signs PSCs for four Myanmar offshore blocks

Woodside has signed production sharing contracts (PSCs) for Myanmar offshore blocks AD-2, AD-5, A-4 and A-7. The AD-5 and A-7 blocks are located in the southern Rakhine basin, while AD-2 and A-4 are situated in the northern part of the basin. Woodside operates and holds a 55% and 45% interest in AD-5 and A-7 respectively. […]

Despite capacity constraints, oil & gas industry still promising

Win Khaing, a member of National Energy Management Committee and chairman of United Engineering Co Ltd, said the industry itself brings a lot of opportunities for foreign investors to do business in the newly-opened nation. “Probable and possible uncontracted gas would amount to 4,000 MMCFD over 30 years. It definitely indicates the level of optimism […]