Petronas has edge in Myanmar oil bidding round

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myanmar_oil_and_gas_fieldsIn the final phase of bidding for oil and gas blocks off Myanmar’s coast, about 20 companies dropped out of the race, a senior energy ministry official said according to a Reuters report.

While 61 companies were qualified to bid, only about 40 submitted applications by the November 15 deadline. Processing is still going on. Myanmar is offering 11 shallow and 19 deep-sea blocks. Those chosen to develop shallow blocks will be required to work with local partners, while foreign companies can develop deep-sea blocks on their own as few local companies have experience in the sector.

Among the 79 companies that bid in the first stage in April were Royal Dutch Shell Plc, Chevron Corp, ConocoPhillips, Exxon Mobil Corp, France’s Total SA, Thailand’s PTT Exploration and Production PLC (PTTEP) and Malaysia’s Petroliam Nasional BHD (Petronas).

Petronas, Total and PTTEP have “a considerable edge over newcomers”, because they already have experience and infrastructure in Myanmar, according to an October 21 analysis by VDB Loi, a law firm that has advised three “super majors” on investment in oil and gas exploration in Myanmar

For the first time in Myanmar, the winners would be required to perform environment impact assessments before final approval from the country’s investment commission, the energy ministry official said

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Reading Time: 1 minute

In the final phase of bidding for oil and gas blocks off Myanmar’s coast, about 20 companies dropped out of the race, a senior energy ministry official said according to a Reuters report.

Reading Time: 1 minute

myanmar_oil_and_gas_fieldsIn the final phase of bidding for oil and gas blocks off Myanmar’s coast, about 20 companies dropped out of the race, a senior energy ministry official said according to a Reuters report.

While 61 companies were qualified to bid, only about 40 submitted applications by the November 15 deadline. Processing is still going on. Myanmar is offering 11 shallow and 19 deep-sea blocks. Those chosen to develop shallow blocks will be required to work with local partners, while foreign companies can develop deep-sea blocks on their own as few local companies have experience in the sector.

Among the 79 companies that bid in the first stage in April were Royal Dutch Shell Plc, Chevron Corp, ConocoPhillips, Exxon Mobil Corp, France’s Total SA, Thailand’s PTT Exploration and Production PLC (PTTEP) and Malaysia’s Petroliam Nasional BHD (Petronas).

Petronas, Total and PTTEP have “a considerable edge over newcomers”, because they already have experience and infrastructure in Myanmar, according to an October 21 analysis by VDB Loi, a law firm that has advised three “super majors” on investment in oil and gas exploration in Myanmar

For the first time in Myanmar, the winners would be required to perform environment impact assessments before final approval from the country’s investment commission, the energy ministry official said

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