Myanmar said it would open bidding in June for the exploration and
development of 11 shallow and 19 deep-sea oil and gas blocks, in only
the second bidding round since the easing of US sanctions against the
gas-rich country. "Interested parties are to submit their letters of
interest to the Director General at the Naypyitaw-based Ministry of
Energy by June 14," the ministry said in an announcement on its website
and in official newspapers on Thursday.
Stiff competition is expected for the 30 offshore blocks. The
bidding round would be the third opportunity for companies to enter the
country's oil and gas sector since 2011 and the second round since US
sanctions were eased due to democratic reforms in the Southeast Asian
nation.
Myanmar, a country of 60 million people, is rich in gas
reserves, which government officials estimate at 11 trillion to 23
trillion cubic feet. The announcement dated April 11 said "the potential
bidders will be allowed to submit three proposals for any three
offshore blocks (shallow water or deep water or both)".
Companies that win licences will operate on a production-sharing
basis. Those who win the 11 shallow blocks will have to work with at
least one registered local partner, the ministry said. Foreign companies
will be able to operate alone in the deep-sea blocks, given that few
local companies have any experience in the sector. In January, the
ministry invited bids for exploration licences for 18 onshore blocks.
Foreign companies were required to have local partners, and as a result
about 137 local entities rushed to register with the ministry.
Also on Thursday Myanmar announced the names of 59 companies
that had pre-qualified for the 18 onshore blocks from countries
including Canada, the UK, Australia, Japan, Thailand, US firms Esso
Exploration International and Osprey Petroleum Co, and one Chinese
company.
Myanmar's MPRL E&P Pte. was the only local company among the
59 that qualified. "Since the potential bidders for these 18 blocks are
required to enter mandatory joint-ventures with a registered Myanmar
national company, they didn't appeal to international giants such as
Royal Dutch Shell PLC, Chevron Corp, ConocoPhillips and Exxon Mobil
Corp," a senior Energy Ministry official said.
source: Business Recorder
http://www.brecorder.com/fuel-a-energy/193/1174804/
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