The Ministry of Energy announced the final list of winners of 20 offshore oil and gas blocks. They include BG Asia Pacific Ltd, Woodside Energy Ltd, Oil India Ltd, Oilmax Energy Ltd, Mercator Petroleum Ltd, Reliance Industries Ltd and Eni Myanmar BV.
Previously, Myanmar’s oil and gas industry was largely run by Thai and Chinese firms. As part of the latest tender, international firms must agree to joint venture with a local partner. Block winners are also required to invest $3 billion after contracts are signed in return for 30 year licenses to explore and produce oil and gas offshore. Seven international companies are already operating in 18 of the 51 offshore oil and gas blocks.