Home MMBIZ News Hawkley Oil and Gas Eyes Myanmar

Hawkley Oil and Gas Eyes Myanmar

Australian energy firm Hawkley Oil & Gas Ltd has revealed its acquisition and expansion aspirations in Myanmar in its bid to expand its Asia Pacific presence.    

The company is partnering with Azimuth Ltd to bid for three shallow water blocks in Myanmar, with allocations due early this year, it said.

Azimuth is an offshore focused exploration company active through 37 offshore exploration licenses containing 85 blocks offshore Norway, Ireland, UK, and Namibia, where it is the largest single offshore exploration area holder with 70,000 square kilometres.

Hawkley is also negotiating the acquisition of near-term producing assets in Ukraine and the Former Soviet Union. The company has revealed it is undertaking several expansion strategies to leverage revenue from oil produced at its Sorochynska field in Ukraine.

Hawkley is presently capitalised at around $6 million.

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