The Myanmar National Energy Management Committee will promote international energy collaboration in the country, according to an announcement issued by the committee.
The announcement included nine points of national energy policy based on the “Myanmar Energy Sector Policy Draft Working Paper” drafted by international and national energy experts.
The committee will implement short- and long-term comprehensive energy development plan, to institute laws, rules and regulations in order to promote private sector participation and to privatise state energy organisations in line with State Economic Reform Policy, said the announcement.
The committee will also promote energy efficiency and energy conservation.
A new Research, Development, Design and Dissemination Institution will be established in order to keep abreast with international practices in energy resources exploration and development works, it said.
The National Energy Management Committee and Energy Development Committee were formed Jan 9, 2013 to propel the development of energy and electrical sectors.
Myanmar produced 6.1 million barrels of crude oil and 13.16 billion cubic metres of natural gas in the fiscal year 2013-14, according to the Central Statistical Organisation.
According to official statistics, foreign investment in Myanmar’s oil and gas sector amounted to $15.18 billion as of October 2014 accounting for 30.22 percent of the total, ranking second in Myanmar’s foreign investment sectors line-up after electricity.