The country’s largest
corporations have already bid for onshore oil and natural gas blocks put
to tender last month and more companies are expected to follow suit,
the Ministry of Energy said.
The statement follows reports that eight
international firms have formed joint ventures with domestic firms to
explore for oil and gas in 10 of the 18 onshore blocks put up for
bidding.
Last month’s tender drew interest from 37 overseas companies from 18 countries, officials said.
They said Myanmar companies were working
with international petroleum companies to find oil and gas for domestic
use and for reserves. The Ministry of Energy is also looking for
private companies to enter joint ventures to build oil refineries,
liquefied gas plants and methanol gas plants, officials said.
The ministry is planning to expand both
inshore and offshore exploration, officials said. Myanmar earned more
than US$3.4 billion from oil and natural gas in fiscal year 2011 and
more than $2 billion so far in the fiscal year ending in March,
according to Commerce Ministry figures.
There are 50 onshore oil and natural gas blocks in Myanmar.
source: Eleven Myanmar
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