Myanmar seeking more offshore investments

Myanmar seeking more offshore investments

Bangkok: Myanmar will let international investors bid for 15 additional offshore oil exploration blocks by the end of next year, a move that comes after the earlier release of 40 blocks that have already been awarded to big international players like Chevron, Shell, Eni, Statoil and Total.

Myanmar has about 80 oil and gas blocks to exploit on its territory.

“Our expectations are high to discover more oil and gas. So it will contribute a lot to the Myanmar people,” said Than Min, director of planning department of state-owned Myanmar Oil and Gas Enterprise, the country’s national oil and gas company.  [23/10/14]