Home MMBIZ News Singapore Firm Probe Myanmar’s Offshore Oil

Singapore Firm Probe Myanmar’s Offshore Oil

Berlanga Myanmar Pte Ltd, a Singapore-based oil exploration firm, will cooperate with Myanmar-based A-1 Mining Co Ltd and the state-run Myanmar Oil and Gas Enterprise to explore an offshore oil block, reported the Global New Light of Myanmar.

The offshore block, designated Motamma M-8, will be the subject of a one-year feasibility study, followed by six years of exploration.

The joint project is expected to cost $153 million.

This comes shortly after two Indian companies negotiated cooperative contracts to explore and extract oil from offshore blocks.

Foreign investment in Myanmar’s oil and gas sector surpassed $15 billion in October, accounting for almost one third of foreign investment in the country, according to official statistics.

- Advertisment -

Must Read

Dai-ichi Ready to Deliver its “Peace of Mind” Propositions to Myanmar

အောက်တွင် မြန်မာလို ဖတ်ရှုနိုင်ပါသည် Dai-ichi Life Insurance Myanmar announced that it is ready to deliver its “Peace of Mind” propositions to the Myanmar community as it...