Myanmar's Energy Blocks Auction Attract Many Players

Myanmar’s tender of onshore oil and natural gas blocks that took place last month has attracted large corporations and is expected to attract more, the Ministry of Energy said.

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, Eleven Myanmar said in a news report. Last month’s tender drew interest from 37 overseas companies from 18 countries.

Myanmar has been working with foreign firms to find oil and gas and is also looking for private companies to enter joint ventures to build oil refineries, liquefied gas plants and methanol gas plants, the news item said.

There are 50 onshore oil and natural gas blocks in Myanmar.