HomeMMBIZ NewsOffshore Tender Attracts 30 Firms

Offshore Tender Attracts 30 Firms

Myanmar has received bids from 30 companies, including international oil companies and state-owned oil and gas companies, in its maiden offshore licensing round, according to data from the Ministry of Energy.
In this licensing round, the government offered 30 blocks – 11 in shallow water and 19 in deep water – and the international oil and gas community has shown key interest.
Shell, in partnership with Japan’s Mitsui Oil Exploration Company, has bid for three blocks, while Chevron has bid for two. ExxonMobil for two blocks, as well as Statoil, who is in partnership with ConocoPhillips, and Total.
Thailand’s PTT Exploration and Production, which already has a heavy presence in the country, has bid for one block and Malaysia’s Petronas has bid for two, as has India’s OVL.
The 11 shallow water blocks on offer comprise three blocks in the Rakhine Offshore Area, three in the Moattama Offshore Area and five in the Tanintharyi Offshore Area. Of the 19 deepwater blocks, 12 are in the Rakhine area, three in Moattama and five in Tanintharyi.
Bidder were allowed to submit a maximum of three bids each, and the blocks will be awarded under a production sharing agreement, although foreign companies could be offered full ownership of some deepwater blocks.
For the shallow blocks, foreign firms must team up with one local company, but the deepwater blocks are expected to grant stand-alone status.

- Advertisment -spot_img

Must Read

Ooredoo adopts new brand positioning

Recently, Ooredoo Myanmar changed their brand logo on Facebook baffling the users amid rumours that Ooredoo Group was planning to sell its Myanmar branch. But...