Myanmar awards contracts for 16 onshore blocks
Italy’s Eni, India’s ONGC Videsh and Malaysia’s Petronas were among the winners of contracts for 16 onshore energy blocks in Myanmar, an energy ministry official said on October 11.
Thirteen of the 16 contracts were production sharing deals and the rest were petroleum recovery contracts.
Eni, Petronas, ONGC, Pakistan’s Petroleum Exploration (PVT) and Canada’s Pacific Hunt Energy Corp each won contracts to operate two blocks, according to a list of the winners seen by Reuters.
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 report said.
Production Sharing Contracts:
No Block/Area – Company awarded
1 B-2 (Zebyutaung-Nandaw) – ONGC Videsh, India
2 K (Yamethin) – Eni, Italy
3 O (Pathein) – Petroleum Exploration, Pakistan
4 EP-1 (Kyaukkyi-Mindon) – Brunei National Petroleum
5 EP-3 (Thegon-Shwegu) – ONGC Videsh, India
6 IOR-5 (Htantabin) – Petronas, Malaysia
7 C-1 (Indaw-Yenan) – Pacific Hunt Energy, Canada
8 H (Taungoo-Pyinmana) – Pacific Hunt Energy, Canada
9 J (Mawlamyine) – Petroleum Exploration, Pakistan
10 MOGE-4 (Myintha) – CAOG S.a.r.l., Luxembourg
11 EP-4 (Mayaman) – JSOC Bashneft, Russia
12 RSF-5 (Ondwe) – Eni, Italy
13 MOGE-3 (Padaukpin-Natmi) – PTTEP South Asia Ltd. + Palang, Sophon Offshore, Thailand
Petroleum Recovery Contracts:
No Block/Area – Company awarded
14 IOR-4 (Pyay) – MPRL E & P Pte, British Virgin Islands
15 IOR-6 (Myanaung) – MPRL E & P Pte, British Virgin Islands
16 IOR-7 (Shwepyitha) – Petronas, Malaysia
With a total of $13.6 billion from 64 projects, the oil and gas sector has attracted the largest share of total foreign investment in Myanmar.
The country exported $3.7 billion worth of gas mainly to neighbouring Thailand in the 2012-2013 (April/March) fiscal year, up from $3.5 billion in 2011-2012 and $2.4 billion in 2008-2009. Proceeds from the sale of gas are expected to climb later this fiscal year following the start of operations of a pipeline from western Rakhine state on the Bay of Bengal to China.
Italy's Eni, India's ONGC Videsh and Malaysia's Petronas were among the winners of contracts for 16 onshore energy blocks in Myanmar, an energy ministry official said on October 11. Thirteen of the 16 contracts were production sharing deals and the rest were petroleum recovery contracts. Eni, Petronas, ONGC, Pakistan's Petroleum Exploration (PVT) and Canada's Pacific Hunt Energy Corp each won contracts to operate two blocks, according to a list of the winners seen by Reuters. 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...
Italy’s Eni, India’s ONGC Videsh and Malaysia’s Petronas were among the winners of contracts for 16 onshore energy blocks in Myanmar, an energy ministry official said on October 11.
Thirteen of the 16 contracts were production sharing deals and the rest were petroleum recovery contracts.
Eni, Petronas, ONGC, Pakistan’s Petroleum Exploration (PVT) and Canada’s Pacific Hunt Energy Corp each won contracts to operate two blocks, according to a list of the winners seen by Reuters.
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 report said.
Production Sharing Contracts:
No Block/Area – Company awarded
1 B-2 (Zebyutaung-Nandaw) – ONGC Videsh, India
2 K (Yamethin) – Eni, Italy
3 O (Pathein) – Petroleum Exploration, Pakistan
4 EP-1 (Kyaukkyi-Mindon) – Brunei National Petroleum
5 EP-3 (Thegon-Shwegu) – ONGC Videsh, India
6 IOR-5 (Htantabin) – Petronas, Malaysia
7 C-1 (Indaw-Yenan) – Pacific Hunt Energy, Canada
8 H (Taungoo-Pyinmana) – Pacific Hunt Energy, Canada
9 J (Mawlamyine) – Petroleum Exploration, Pakistan
10 MOGE-4 (Myintha) – CAOG S.a.r.l., Luxembourg
11 EP-4 (Mayaman) – JSOC Bashneft, Russia
12 RSF-5 (Ondwe) – Eni, Italy
13 MOGE-3 (Padaukpin-Natmi) – PTTEP South Asia Ltd. + Palang, Sophon Offshore, Thailand
Petroleum Recovery Contracts:
No Block/Area – Company awarded
14 IOR-4 (Pyay) – MPRL E & P Pte, British Virgin Islands
15 IOR-6 (Myanaung) – MPRL E & P Pte, British Virgin Islands
16 IOR-7 (Shwepyitha) – Petronas, Malaysia
With a total of $13.6 billion from 64 projects, the oil and gas sector has attracted the largest share of total foreign investment in Myanmar.
The country exported $3.7 billion worth of gas mainly to neighbouring Thailand in the 2012-2013 (April/March) fiscal year, up from $3.5 billion in 2011-2012 and $2.4 billion in 2008-2009. Proceeds from the sale of gas are expected to climb later this fiscal year following the start of operations of a pipeline from western Rakhine state on the Bay of Bengal to China.
The crucial element in unlocking Myanmar’s hydrocarbon potential is global investment transparency and following on its inaugural EITI report in early 2016 Myanmar should be commended for rejecting a Pakistan company bid for two onshore oil blocks by Petroleum Exploration (Pvt) Limited (PEL) (Shahzad International) as the company struggled to meet international transparency-integrity standards and stands as the only onshore round awardee disqualified from signing an oil and gas PSC.