India firms leading Myanmar oil race

Reading Time: 2 minutes
Myanmar oil and gas fields (click to enlarge)
Myanmar oil and gas fields (click to enlarge)

The Myanmar Ministry of Energy has listed 59 “prospective bidders” clamouring for 30 offshore oil and gas blocks, with seven Indian companies included in the race.

Considered to be largely in China’s orbit of influence, Myanmar could take an unexpected turn in its hydrocarbon sector, with Indian heavyweights, such as state-run ONGC Videsh Ltd (OVL) and Oil India Ltd (OIL), taking the dominant role.

Besides OVL and OIL, the other shortlisted Indian players are Cairn India, Prize Petroleum, Jubilant Energy (Kharsang), Jubilant Oil and Gas and Gujarat Natural Resources.

The short-listed international firms for onshore blocks include Nippon Oil & Gas Exploration, Mitsui Oil Exploration, Woodside Energy, Eni International, Petronas and Nido Petroleum.

Global energy giants Royal Dutch Shell, Chevron Corp, Conoco Phillips and Exxon Mobil Corp are also battling for offshore blocks, according to industry reports.

Regardless of the outcome, Myanmar is starved for investment and entrance form any number of outside investors excluding China will further ebb away at dependence on their overbearing northern neighbour.

Prospective bidders for the contended blocks must submit their “Letter of Expression of Interest” by June 14, while firms seeking to explore shallow water blocks must enter into with a local partner.

Those companies actively pitching to work with the state-owned Myanma Oil and Gas Enterprise must prove “technological competence, financial capability, experience and technical know-how to conduct exploration and development works in offshore areas,” Thura Swiss, a local consultancy, has reported.

Unlike in the past, bidders looking to explore deep water blocks no longer have to be joined by a local partner thanks to an amendment made to attract firms with the high technical skills and financial backing required for the blocks.

Of the 30 offshore blocks, 11 shallow and 19 deep-sea oil and gas blocks are up for bidding on a production-sharing basis. Eighteen onshore blocks, too, are up for grabs.

 

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid

Reading Time: 2 minutes

Myanmar oil and gas fields (click to enlarge)

The Myanmar Ministry of Energy has listed 59 “prospective bidders” clamouring for 30 offshore oil and gas blocks, with seven Indian companies included in the race.

Reading Time: 2 minutes

Myanmar oil and gas fields (click to enlarge)
Myanmar oil and gas fields (click to enlarge)

The Myanmar Ministry of Energy has listed 59 “prospective bidders” clamouring for 30 offshore oil and gas blocks, with seven Indian companies included in the race.

Considered to be largely in China’s orbit of influence, Myanmar could take an unexpected turn in its hydrocarbon sector, with Indian heavyweights, such as state-run ONGC Videsh Ltd (OVL) and Oil India Ltd (OIL), taking the dominant role.

Besides OVL and OIL, the other shortlisted Indian players are Cairn India, Prize Petroleum, Jubilant Energy (Kharsang), Jubilant Oil and Gas and Gujarat Natural Resources.

The short-listed international firms for onshore blocks include Nippon Oil & Gas Exploration, Mitsui Oil Exploration, Woodside Energy, Eni International, Petronas and Nido Petroleum.

Global energy giants Royal Dutch Shell, Chevron Corp, Conoco Phillips and Exxon Mobil Corp are also battling for offshore blocks, according to industry reports.

Regardless of the outcome, Myanmar is starved for investment and entrance form any number of outside investors excluding China will further ebb away at dependence on their overbearing northern neighbour.

Prospective bidders for the contended blocks must submit their “Letter of Expression of Interest” by June 14, while firms seeking to explore shallow water blocks must enter into with a local partner.

Those companies actively pitching to work with the state-owned Myanma Oil and Gas Enterprise must prove “technological competence, financial capability, experience and technical know-how to conduct exploration and development works in offshore areas,” Thura Swiss, a local consultancy, has reported.

Unlike in the past, bidders looking to explore deep water blocks no longer have to be joined by a local partner thanks to an amendment made to attract firms with the high technical skills and financial backing required for the blocks.

Of the 30 offshore blocks, 11 shallow and 19 deep-sea oil and gas blocks are up for bidding on a production-sharing basis. Eighteen onshore blocks, too, are up for grabs.

 

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid