HomeMMBIZ NewsMOGE to Invite Tenders for 26 Sites

MOGE to Invite Tenders for 26 Sites

The Ministry of Energy will call tenders for 26 gas exploration sites in fiscal year 2015-16, according to an official of Myanmar Oil and Gas Enterprise.

“Tenders will be called for 26 sites this fiscal year, for both offshore and onshore oil exploration. This is intended to be enough for usage in the country.”

The tenders are for 13 sites onshore and 13 sites for offshore. Among offshore sites nine are deep water and four are shallow water blocks.

Myanmar Oil and Gas Enterprise, a state-run company under the Ministry of Energy called tender for 36 sites in 2013-14 fiscal year.

According to an official from the enterprise, some contracts are yet to be signed with the companies who won the tenders for last year’s sites.

Foreign companies have made joint ventures to invest in drilling in Myanmar. These companies include Daewoo E&P Myanmar which is 65 percent Myanmar-owned, Total E&P which is 89 percent Myanmar owned, PTTEP which is 57 percent Myanmar-owned and Petronas which is 80 percent Myanmar-owned.

- Advertisment -spot_img

Must Read

CBM Issues Entity List Exempted from Foreign Currency Conversion Requirement

The Central Bank of Myanmar issued a letter to the Authorized Dealer (AD) license holding bank containing a list of entities and individuals exempted...