“The tender for offshore fields will
call soon after March 19, which is the final date for inland fields
tender,” Htay Aung said.
Overseas companies have to make joint venture with local companies in inland oil and natural gas fields and they can directly invest in offshore oil and natural gas explorations.
US based multinational energy
corporations such as Chevron, Exxon Mobil and ConocoPhillips are
interested to invest in offshore explorations.
After US and European countries reduced
the sanctions on Myanmar, the international companies are preparing to
invest in profitable sectors. Now they are trying to learn Myanmar
Foreign Investment Law, taxation, labor affairs, rules and regulations
to invest in oil and natural gas sectors.
Myanmar has currently two offshore explorations projects: Yatanar and Yetagun with foreign investment.
Moreover Myanmar will export natural gas
from Zawtika and Shwe natural gas fields using pipe lines to China and
Thailand during this year.
One of Chevron Corporation groups, Unocal Corporation has invested 28.26 of total share in Yatanar offshore explorations.
The government has planned to keep oil and natural gas as natural reserves resources for future use.
source: Eleven Myanmar
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