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Up to 18 Oil Blocks to be Put on Offer

21 June 2012

Burma plans to make as many as 18 onshore oil and gas blocks available to foreign investors in a global tender to be launched later this year, according to a report by Reuters. “For 2012, the international bidding round will be launched in the next two to three months with between 16 to 18 blocks available,” said Aung Kyaw Htoo, the assistant director of the Energy Ministry’s planning department. The new tender follows the country’s largest oil and gas offering in August, in which half of the 18 onshore blocks were awarded to foreign companies.