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World News | February 2012

Myanmar awards 10 onshore oil and gas blocks to 8 firms

Myanmar awarded 10 onshore oil and gas blocks to eight firms in its biggest energy tender in years and is now offering nine offshore blocks. The winning firms include Malaysia’s Petronas and Thailand’s PTT Exploration and Production. The Ministry of Energy and Myanmar Oil and Gas Enterprise are now offering nine offshore blocks, of which five are deepwater. Japanese Trade Minister Yukio Edano was to visit Myanmar in January with a delegation including the president of Japan’s top refiner JX Nippon Oil and Energy. The trip will promote cooperation in energy and mining, including pushing for investment in oil and natural gas in Myanmar. The country's proven gas reserves at 11.8 trillion cubic feet at the end of 2010, or 0.2 per cent of the world’s total, have drawn interest from China and India where economic growth is fuelling energy demand. South East Asian countries are also facing rising demand to use cleaner-burning gas for power generation.
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