Roc Oil Eyes Myanmar Oil, Gas Assets

Roc Oil is looking for local partners in Myanmar to bid for oil and natural gas assets in the South East Asian country.

Roc is looking to lodge its interest in shallow-water fields by a June 14 deadline set by the government after qualifying earlier this year to bid for onshore licenses, Pierre Eliet, general manager of exploration and geoscience for the Sydney-based company, told Bloomberg.

 “Myanmar is a country with huge potential that has been frozen in time in many regards,” Eliet told Bloomberg. “There’s an opportunity to revisit a well-established oil and gas heartland with new technologies and perhaps a new approach.”

Myanmar’s potential gas resources are estimated at as much as 45 trillion cubic feet, Roc said in February, citing a U.S. Geological Survey report, Bloomberg added. Myanmar has 7.8 trillion cubic feet of proven gas reserves, according to BP data.