Home MMBIZ News Mon Gov’t Inks Port Deal with MOSB Ltd

Mon Gov’t Inks Port Deal with MOSB Ltd

The Mon state government has signed a memorandum of understanding (MoU) with Myanmar Offshore Supply Base (MOSB) Ltd to construct, manage and operate the new port facility located in Mawlamyine, the capital of the state.

The dedicated port will provide a wide range of services to the operators now actively engaged in the waters off Myanmar, MOSB said.

Sprawling over an area of 193 acres onshore with some 46 acres of river front land, the fully integrated marine supply base is to serve the national oil and gas industry which is growing at an incremental pace.

MOSB said the facility will provide a “total logistics solution for oil and gas customers including exploration, development and floating, production and offloading (FPSO) servicing of facilities in the region.”

This government-private partnership will be carried out on a Build-Operate-Transfer (BOT) basis.

MOSB Ltd Executive Chairman Leonard Oh hailed the initiative as “the largest project of its kind for the oil and gas industry in the whole of Myanmar during the first quarter of the 21st century.”

He said, “We see it as a long-term synergy with the Myanmar government to propel the national economy and support and expand the local infrastructure as well. We … look forward to creating opportunities for increased employment in Mon state and throughout the nation. In the future, more jobs will open up and provide the local workforce with a wider range of choices to upgrade their standards of living.”

Mawlamyine, formerly known as Moulmein, is located some 300km southeast of Yangon. This major coastal trading centre about 45km from the Gulf of Mottama is the second largest seaport in Myanmar and has air, sea, rail, road and communication connections.

The MOSB Ltd management said it will put in place industry leading operating and safety processes to ensure that all oilfield logistics and related services are delivered safely, on time and in good condition to each intended FPSO rig or platform.

“The ultimate aim is to enhance the business growth and overall economic development in the Union of Myanmar,” MOSB said in a statement.

Built in stages, the offshore supply base will cater to confirmed oil and gas operators brought in by the Myanmar Oil and Gas Enterprise (MOGE). In tandem with the federal administrative move under the aegis of the Ministry of Energy, the Mon state government has recently been encouraging direct foreign investments to improve the local economy of Mawlamyine.

MOSB said its investment is expected to spur other related economic activities besides physical infrastructural growth and developing public and social services.

MOSB Ltd Vice Chairman Naing Myo Set said, “Myanmar is focused on driving the national economy through the oil and gas industry. In partnering MOSB Ltd the government is essentially fast-tracking the inflow of infrastructural and economic developments.”

- Advertisment -

Must Read