Even though Myanmar managed to bring down its trade deficit by US$500 million to $1.3 billion during the period between April 1 and September 30 from the same period last year, the volatile exchange rate and rising oil prices may well continue to drive up import costs in the coming months. U Yan Naing Tun, […]
Myanmar To Auction Off 31 New Oil And Gas Blocks
October 29, 2018 by
On August 30 the Ministry of Electricity and Energy (MoEE) announced it would be opening fresh rounds of bidding for oil and gas blocks in the first half of next year, and there are plans to launch a tender for at least one onshore block before the end of 2018. If all goes according to […]
Total announces positive appraisal of A6 Block discovery, offshore Myanmar
September 26, 2018 by
Total announces a successful appraisal of the A6 Block, Shwe Yee Htun-2 discovery, offshore Myanmar, completing a major step towards confirming a commercial project. The well was drilled to a final depth of 4,820 m and encountered 40 m of net gas pay in a high-quality reservoir. Preliminary tests confirm good reservoir quality, permeability and […]
Better Gas Technology, Infrastructure Crucial to Solving Power Problem
August 29, 2017 by
Myanmar, one of the fastest growing economies in the world, is nevertheless notorious for its insufficient supply of power. Despite several State and regional Master Plans and programs, just one third – or 3.7 million out of the 10 million households in the country – enjoys access to electricity. Meanwhile, the government’s losses, accumulated on […]
Energy dilemma
March 15, 2016 by
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. […]
Woodside scores drilling success with gas find off Myanmar
January 6, 2016 by
Woodside Petroleum looks well placed to capitalise on its early entry into the exploration hotspot of Myanmar, reporting what chief executive Peter Coleman called an “encouraging” gas discovery at its first well. The find at the Shwe Yee Htun-1 exploration well appears of relatively modest size, at 15 metres of “net gas pay”, but it […]
ConocoPhillips and Statoil sign deal for deepwater block
May 5, 2015 by
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 […]
MIC gives nod to last foreign oil firms
March 26, 2015 by
The last international oil companies that must still sign Production Sharing Contracts with Myanma Oil and Gas Enterprise have now received permission from Myanmar Investment Commission, a statement said yesterday. International oil firms have been signing the Production Sharing Contracts – which govern exploration and production activities – since December, following a bidding round for […]
Myanmar’s oil and gas boom fuels services scramble
May 12, 2014 by
YANGON — As economic and political changes brewed in Myanmar four years ago, Yadana Su Hlaing decided it was time to return home after a decade studying and working overseas to help run Smart Technical Services, the Yangon-based oil and gas support services company founded by her father, K.K. Hlaing. Her timing could not have […]
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