Myanmar to Launch Tender for Six Onshore Oil, Gas Blocks

Myanmar will launch a global tender for six onshore oil and gas blocks to attract foreign investment in the sector. 

According to a report in Reuters, latest tender will be issued in late February or early March. In August last year, country’s 10 onshore blocks were lapped up by foreign firm, mostly Asian.

Under the new tender, Myanmar will offer two fields under production-sharing contracts while the rest will be awarded under marginal field development and improved petroleum recovery contracts, the report said.

The new tender will come soon after the winners of the earlier tender sign their deals in February. Once again, a lot of interest is expected to come from Asian firms.

In the last global tender, Southeast Asian firms such as Malaysia's Petronas and Thailand's PTT Exploration and Production bagged contracts for two fields each.

The report said that Myanmar would like to look at India and Southeast Asia as China already has a lot of investment in the country’s energy sector.