American oil and gas giants Chevron,
Exxon Mobil and ConocoPhillips are planning to invest in Myanmar’s
energy sector, according to the ministry of energy.
The companies conveyed their interest
during a meeting between a Myanmar delegation and officials from
American energy sector on December 10.
Minister for Energy Than Htay and
Minister for Mines Dr Myint Aung led the Myanmar delegation during the
meeting held at the ministry of national planning and economic
development in Nay Pyi Taw.
The US State Department invited the
Myanmar officials to study the process of oil, gas and mining industries
in the Gulf of Mexico and America.
Chevron Corporation, ExxonMobil and
ConocoPhillips are American multinational corporations headquartered in
San Ramon in California, and Irving and Houston in Texas respectively.
Myanmar currently has foreign investment in Yadanar and Yetagun offshore oil and natural gas exploration projects.
America and other European countries
relaxed sanctions on Myanmar and the US companies are planning to enter
the market. They are now analysing Myanmar’s rules and regulations on
foreign investment, tax, labour affairs, petroleum and natural gas
sectors, according to sources.
source: Eleven Myanmar
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