The number of joint ventures between local and international energy companies now exceeds 140 say officials from the Ministry of Energy.
According to Myanmar’s most recent
foreign investment law, foreign companies are generally required to make
joint ventures with local companies in order to invest in the oil and
gas sector.
On June 12, a total of 145 joint
ventures have been registered with the Ministry of Energy. These include
leading local companies such as Shwe Taung Company, Eden Group,
International Group of Entrepreneurs Company, Kanbawza and A 1 Company.
The oil and gas sector is one of the
major sources of foreign income for Myanmar. Last January, eighteen
onshore blocks were put out to tender and offshore blocks will follow
soon, the Minister for Energy said at the World Economic Forum a few
weeks ago.
Early last year, 37 foreign firms from
18 countries bid tenders for 18 onshore blocks of oil and gas in
Myanmar. Among them, 10 were picked to join hands with local companies.
Two major offshore oil and gas projects,
operating with foreign investment in Myanmar, are Yadana and Yetagun
Projects. Zawtika and Shwe Gas Projects will also become fully
operational soon. Oil and gas from these major projects are exported
mainly to Thailand and China.
Ministry of Energy reported they will
focus on exploration of more onshore and offshore oil and gas fields to
boost the industry.
source: Eleven Myanmar
No comments:
Post a Comment