Competition escalates for Myanmar's offshore oil blocks

Competition escalates for Myanmar's offshore oil blocks

Published on Saturday, 10 August 2013 15:17

Competition to win the contract to operate 30 offshore oil blocks in Myanmar coastal regions has escalated among Chinese, Indian and other global oil companies, said an industry observer.

State-owned Myanmar Oil and Gas Enterprise (MOGE) has recently announced a list of international firms shortlisted for the tender of 30 offshore blocks- 11 in shallow waters and 19 in deep waters.

A total of 61 companies have been shortlisted. Global companies like Shell, Exxon Mobil, France's Total, Norway's Statoil, Italy's Eni, Spain's Repsol, US's Anadarko Petroleum, UK's Premier Oil are on the list.

It also includes the Indian firms such as Reliance Industries Ltd (RIL), ONGC Videsh, Oil India Ltd, Cairn India and Jubilant Offshore Drilling (JODPL), as well as China National Petroleum Corporation.

MOGE is set to organize a workshop on August 12 to provide shortlisted companies with information about the offshore oil blocks on tender, an official from MOGE said.

The winners of the tender will be announced early next year, he added.

According to the terms and conditions of the tender, an international company can apply for operating up to 3 oil blocks. They are required to join with a local firm to operate the oil blocks in shallow waters while they are free to operate as wholly owned those in deep waters.

Myanmar has also put out to tender 18 onshore blocks earlier. The list of tender winners for the onshore blocks is expected to be released in December, the official noted.

http://www.information.myanmaronlinecentre.com/competition-escalates-for-myanmars-offshore-oil-blocks/