Raisama Energy Enters Myanmar Oil, Gas Space

Australia's Raisama Energy Limited has signed an agreement with Chinthe Energy Limited to jointly pursue oil and gas projects in the Republic of Myanmar. 

Myanmar Oil and Gas Enterprise (MOGE), which regulates the upstream oil and gas sector on behalf of the Ministry of Energy, has announced the next round of new gazettal’s for March 2013.  Raisama and Chinthe intend to evaluate and, if deemed appropriate, to participate in this round which includes both new blocks and also existing field rejuvenation opportunities, Raisama said in a statement.

Recently promulgated laws mandate foreign investors in the oil and gas sector to partner with a local company.  Over a period of six months, including visits to Myanmar, Raisama has developed a working relationship with Chinthe and agreed principles which align the fortunes of each company toward success, the company said.