• Burmese
Wednesday, July 9, 2025
No Result
View All Result
NEWSLETTER
The Irrawaddy
28 °c
Yangon
  • Home
  • News
    • Burma
    • Politics
    • World
    • Asia
    • Myanmar’s Crisis & the World
    • Ethnic Issues
    • War Against the Junta
    • Junta Cronies
    • Conflicts In Numbers
    • Junta Watch
    • Fact Check
    • Investigation
    • Myanmar-China Watch
    • Obituaries
  • Politics
  • Business
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Stories That Shaped Us
    • Letters
  • Junta Watch
  • Ethnic Issues
  • War Against the Junta
  • In Person
    • Interview
    • Profile
  • Books
  • Donation
  • Home
  • News
    • Burma
    • Politics
    • World
    • Asia
    • Myanmar’s Crisis & the World
    • Ethnic Issues
    • War Against the Junta
    • Junta Cronies
    • Conflicts In Numbers
    • Junta Watch
    • Fact Check
    • Investigation
    • Myanmar-China Watch
    • Obituaries
  • Politics
  • Business
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Stories That Shaped Us
    • Letters
  • Junta Watch
  • Ethnic Issues
  • War Against the Junta
  • In Person
    • Interview
    • Profile
  • Books
  • Donation
No Result
View All Result
The Irrawaddy
No Result
View All Result
Home News Burma

Burma Awards Onshore Oil and Gas Blocks to International Firms

The Irrawaddy by The Irrawaddy
October 11, 2013
in Uncategorized
Reading Time: 3 mins read
0 0
A A
Burma Awards Onshore Oil and Gas Blocks to International Firms
9.7k
VIEWS
Share on FacebookShare on Twitter

RANGOON — Burma’s Ministry of Energy has named nine international companies, including Russian, Italian and Canadian firms, as winners of tenders to explore onshore territory for oil and gas reserves, according to an official announcement.

An announcement posted on the ministry’s website Thursday said 13 blocks had been awarded to firms that, if they find oil or gas, will enter into production sharing contracts with the Burmese government. Three improved petroleum recovery (IPR) blocks were also awarded.

 Myanmar, Oil and gas, Burma, Rangoon, petroleum, PTT, Petronas, investment in Myanmar
Oil wells on the banks of the Irrawaddy River in Chauk, Magway Division. (Photo: Reuters)

ONGC Videsh Limited of India, Eni of Italy, Petroleum Exploration (PVT) Ltd. of Pakistan and Canada’s Pacific Hunt Energy Corp. were awarded two blocks each to explore with a view to entering profit-sharing agreements with the government.

RelatedPosts

Myanmar Junta Courts Russian Investment to Build SE Asia Trade Hub

Myanmar Junta Courts Russian Investment to Build SE Asia Trade Hub

June 25, 2025
2.4k
China’s Bet on Myanmar Junta Risks Backfiring

China’s Bet on Myanmar Junta Risks Backfiring

June 17, 2025
2.2k
Social Media and Street Protests: Myanmar’s Pushback Against Chinese Influence

Social Media and Street Protests: Myanmar’s Pushback Against Chinese Influence

April 17, 2025
1.6k

Brunei National Petroleum Co., CAOG S.a.r.l. of Luxembourg, JSOC Bashneft of Russia and a consortium of Thailand’s PTTEP South Asia Ltd. and Palang Sophon Offshore were all awarded one block each.

The firms will enter into joint ventures with the state-owned Myanmar Oil and Gas Enterprise (MOGE). According to the standard terms of onshore production sharing contracts, posted on the Ministry of Energy’s website, companies will have to give MOGE at least 60 percent of profits after they have recovered the expenses of exploration. They will also pay 12.5 percent in royalties, as well as taxes on their own profits.

The terms say companies will have to sell at least 20 percent of crude oil and 25 percent of natural gas produced to the domestic market at a 10 percent discount from the market price.

Petronas Carigali, the exploration arm of Malaysia’s state-owned oil company, also won one of the production sharing blocks, as well as an IPR block in Shwepyitha Township, Rangoon Division. IPR refers to the use of advanced methods to extract more oil and gas from a field than can be extracted through traditional drilling.

Two more IPR blocks, in Irrawaddy and Pegu divisions, were awarded to MPRL E & P Pte., Ltd., which is registered in the British Virgin Islands but run by Burmese businessman Michael Moe Myint.

The blocks cover areas of varying size in the Irrawaddy River basin, a region known to contain large deposits of hydrocarbons that the government hopes to tap into to fuel Burma’s development and provide state revenues.

Another round of bidding for 11 shallow-water and 19 deepwater offshore oil and gas exploration blocks is also underway and the winners are expected to be announced early next year.

Thursday’s announcement said 26 companies submitted a total of 54 bids in the competitive tender for the onshore blocks.

“[The Ministry of Energy] chose from them based on the selection criteria: the specified exploration period, the plans of each company and the expected expenses, ratios of sharing oil and gas [with the government], the experiences and financial conditions of each company, the signing bonus proposed by the company, etc.,” it said.

Details of the winning bids have not been made public.

The announcement also said the companies would need to have an environmental impact assessment and a social impact assessment approved by the Myanmar Investment Commissionbefore they start work on the blocks.

Myint Zaw, deputy minister of energy, told a conference last month said he was hopeful the new tenders would yield new onshorereserves, and improve the current level of oil and gas production.

“Total inland production of crude oil is [so far] only 600 million barrels plus, and natural gas only 1.4 trillion cubic feet. However, I’m told by my expert geologists that Myanmar still has lots of onshore potential still remaining to be discovered,” Myint Zaw said last month.

“Our country Myanmar is awaiting technology, expertise and funds to discover new onshore reserves of petroleum.”

Your Thoughts …
Tags: Investment
The Irrawaddy

The Irrawaddy

...

Similar Picks:

General Close to Myanmar Junta Boss Placed Under House Arrest, Interrogated for Corruption
Burma

General Close to Myanmar Junta Boss Placed Under House Arrest, Interrogated for Corruption

by The Irrawaddy
September 14, 2023
28.7k

The arrest of ‘kickback king’ Lt-Gen Moe Myint Tun, once seen as a possible successor to Min Aung Hlaing, comes...

Read moreDetails
Myanmar Junta Arrests Thai Condo Buyers, Realtors as Currency Crashes
Business

Myanmar Junta Arrests Thai Condo Buyers, Realtors as Currency Crashes

by The Irrawaddy
June 4, 2024
27.7k

Monday’s arrests follow reports that Myanmar has become one of Thailand’s most lucrative markets for selling condos since the 2021...

Read moreDetails
Planeload of Cronies Accompany Myanmar Junta Boss on Russia Trip
Business

Planeload of Cronies Accompany Myanmar Junta Boss on Russia Trip

by Hein Htoo Zan
March 7, 2025
11.3k

Regime-linked businessmen are set to cash in on deals flowing from the 10 agreements signed between Russia and the Myanmar...

Read moreDetails
Myanmar’s Youth Flee—and They Aren’t Looking Back
Commentary

Myanmar’s Youth Flee—and They Aren’t Looking Back

by Aung Zaw
February 23, 2024
8.4k

In Thailand and farther afield, they join the wealthy and the educated who have already put down roots and invested...

Read moreDetails
Tracking the Business Empire of Myanmar Regime Stalwart Moe Aung and His Siblings
Investigation

Tracking the Business Empire of Myanmar Regime Stalwart Moe Aung and His Siblings

by Aung Thit
September 4, 2023
7.1k

In the second of a two-part series, The Irrawaddy’s Investigation Desk examines more of the vast business interests of the children of...

Read moreDetails
With Proposed Security Gambit, Beijing Decides ‘Enough Is Enough’ in Myanmar
Analysis

With Proposed Security Gambit, Beijing Decides ‘Enough Is Enough’ in Myanmar

by The Irrawaddy
November 21, 2024
5k

China’s establishment of a joint venture security company with the junta to safeguard BRI projects in Myanmar shows it no...

Read moreDetails
Load More
Next Post

Ethnic Groups Plan to Finish Federalist Draft Constitution Soon

Vietnam Waives Visa Requirement for Burmese Travelers

No Result
View All Result

Recommended

37 Years and Counting: Why Has Myanmar’s Democracy Struggle Taken So Long?

37 Years and Counting: Why Has Myanmar’s Democracy Struggle Taken So Long?

6 days ago
1.2k
Myanmar Junta Blacklists 200 Firms for Dodging Hard Currency Grab

Myanmar Junta Blacklists 200 Firms for Dodging Hard Currency Grab

7 days ago
1.3k

Most Read

  • Myanmar Junta Starves Last Rakhine Strongholds as AA Closes In

    Myanmar Junta Starves Last Rakhine Strongholds as AA Closes In

    shares
    Share 0 Tweet 0
  • Chin Resistance Tensions Boil Over as CNA Seizes Rival’s Myanmar HQ

    shares
    Share 0 Tweet 0
  • China’s Surveillance State Watches Everyone, Everywhere

    shares
    Share 0 Tweet 0
  • Timor-Leste Hits Back at Myanmar Junta’s Objection to ASEAN Membership

    shares
    Share 0 Tweet 0
  • TNLA Defies Myanmar Junta Push to Cede Shan Towns in China Talks  

    shares
    Share 0 Tweet 0

Newsletter

Get The Irrawaddy’s latest news, analyses and opinion pieces on Myanmar in your inbox.

Subscribe here for daily updates.

Contents

  • News
  • Politics
  • War Against the Junta
  • Myanmar’s Crisis & the World
  • Conflicts In Numbers
  • Junta Crony
  • Ethnic Issues
  • Asia
  • World
  • Business
  • Economy
  • Election 2020
  • Elections in History
  • Cartoons
  • Features
  • Opinion
  • Editorial
  • Commentary
  • Guest Column
  • Analysis
  • Letters
  • In Person
  • Interview
  • Profile
  • Dateline
  • Specials
  • Myanmar Diary
  • Women & Gender
  • Places in History
  • On This Day
  • From the Archive
  • Myanmar & COVID-19
  • Intelligence
  • Myanmar-China Watch
  • Lifestyle
  • Travel
  • Food
  • Fashion & Design
  • Videos
  • Photos
  • Photo Essay
  • Donation

About The Irrawaddy

Founded in 1993 by a group of Myanmar journalists living in exile in Thailand, The Irrawaddy is a leading source of reliable news, information, and analysis on Burma/Myanmar and the Southeast Asian region. From its inception, The Irrawaddy has been an independent news media group, unaffiliated with any political party, organization or government. We believe that media must be free and independent and we strive to preserve press freedom.

  • Copyright
  • Code of Ethics
  • Privacy Policy
  • Team
  • About Us
  • Careers
  • Contact
  • Burmese

© 2023 Irrawaddy Publishing Group. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • Burma
    • Politics
    • World
    • Asia
    • Myanmar’s Crisis & the World
    • Ethnic Issues
    • War Against the Junta
    • Junta Cronies
    • Conflicts In Numbers
    • Junta Watch
    • Fact Check
    • Investigation
    • Myanmar-China Watch
    • Obituaries
  • Politics
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Stories That Shaped Us
    • Letters
  • Ethnic Issues
  • War Against the Junta
  • In Person
    • Interview
    • Profile
  • Business
    • Economy
    • Business Roundup
  • Books
  • Donation

© 2023 Irrawaddy Publishing Group. All Rights Reserved

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.