Myanmar Approves Additional Oil, Gas Exploration Tenders

Myanmar has granted oil and gas exploration approval to eight additional foreign companies and eight more local companies in to jointly develop 10 inland blocks out of 18 blocks tendered.

The foreign companies include PTTEP of Thailand and Petronas of Malaysia and others are from Indonesia, Thailand, France, Malaysia, Russia, China and India.

Myanmar has abundance of natural gas resources especially in the offshore areas with proven recoverable reserve of 18.012 trillion cubic feet (TCF) out of 89.722 TCF estimated reserve of offshore and onshore gas.