Foreign companies interested in Myanmar offshore oil exploration
Off Seashore Work Permitted Eight Myanmar Companies
|From : Myanmar Times News Journal|
|Apr 03, 2014|
In Myanmar Offshore Sites, there were already eight Myanmar Companies being selected to do Oil and Natural Gas Exploration and Exploitation said the news.
Selected International Co. List which Ten Offshore Shallow water Sites and ten Offshore Deep Sea Sites were released by the Ministry of Energy last week, Myanmar Companies that may participate in co-work was not notified yet.
“In last Tender Phase has to be co-stated Myanmar Co. go-to-work joint with Foreign Co., so that Company Pairs to co-work which to what permitted they were as it was proposed in document,” said U Pe Zin Htun, Director General from the Department of Energy Planning in the Offshore Tender Notification Ceremony.
For 20 Offshore Worksites, there were Operator-allocated International Companies 13 numbers; 10 in Shallow water Work Sites and 8 in some Deep Sea Work Sites were permitted to co-work said Myanmar Oil and Natural Gas Enterprise MOGE.
For Shallow water Work Sites such as A-4 and A-7 and Deep Sea Work Sites such as AD-2 and AD- 5, British-based BG Asia Pacific and Australia-based Woodside Oil Companies were chosen.
As Joint Co. Myanmar Top Oil Boss Michael Moe Myint’s Myanmar Petroleum E & P (MPEP) got permission to do joint whose portion of Myanmar Co. got permit the most Work Site to do.
US-based Chevron (Unocal Myanmar) Co. was selected for Offshore Shallow water Site A-5 and it selected pair Myanmar Co. was Royal Marine Engineering.
Shallow water Work Sites such as A-4, A-5 and A-7 were worked by Foreign Companies but they were handed over back to MOGE due to many reasons, and it was participated again in the First Offshore Tender Call.
For Offshore Shallow water SitesM-4 and YEB, the selected one was India Government-owned Oil India Co. and Domestic Service Provider to be paired was Oil Star Co.
“Get the Work Chance Myanmar is so good but it may be a little investment; still not having Technology in Myanmar yet. To deal good with the Government, such Diplomacy show was input,” explained Energy Consultant U Khin Maung Cho.
India Energy Co. Reliance was selected for M-17 and M-18 and Joint Co. would be U Tin Myint’s Myanmar Co. entitled United National Resources Development Services.
Parami, the Domestic Energy Co. would have the chance to work joint with Ophir Co. which was enlisted in London Stock Exchange for Deep Sea Work Site AD-3 which got the chance of be participated in Only Foreign Co. Permitted Deep Sea Work Sites.
“Experts estimated Investment size may become potential up to US $ 60 billion when Offshore Work Site Start Time, that is, 100 % of GDP. The questionnaire may be how much Myanmar Co. could take place in the market.”
“It is the best time for Myanmar Companies to do joint for Development with International Companies including MOGE Myanmar,” said U Pyi Wa Htun, Chief Executive from Parami Energy Co.
The new Policy as “International Companies would work joint with one Myanmar Co. at least for Inland and Offshore Shallow water Work Sites” was prescribed by Ministry of Energy MOE last year that nowadays there are up to 162 Myanmar Energy Co. registered in the Department of Energy Planning.
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Myanmar Offshore Blocks First Bidding Round – 2013 results
The Myanmar Ministry of Energy (MOE) announced the results of the Myanmar Offshore Blocks First Bidding Round – 2013, on 26 March 2014. The round had attracted 64 bids from 36 international E&P companies for the 30 blocks offered. Of the 30 blocks offered, winning bids for 20 blocks were announced. The Petroleum Sharing Contracts (PSC) for the 10 shallow water blocks and 10 deep water blocks will be awarded to the successful bidders upon the finalisation of terms between the companies and the Ministry of Energy.
The Myanmar Offshore Blocks First Bidding Round - 2013 was launched on 11 April 2013. A total of 30 offshore areas are offered, 11 shallow water blocks and 19 deep water blocks. Different PSC terms were offered for shallow water and deep water blocks with the key difference being the requirement of local partner participation for shallow water blocks. International companies entering into a Shallow Water PSC would have to work with a local partner, while companies entering a Deep Water PSC could carry out exploration without a local partner due to the high costs and technical expertise required.
Once the PSCs have been signed, the operators would have an 18 month Environmental Impact Assessment and Study Period, after which it would have the option to enter into a 3 year exploration work programme.
The blocks to be awarded are as follows:
|Offshore shallow water blocks|
|Area||Block name||Type of contract||Company 1||Company 2||Company 3|
|Rakhine Offshore Area||A-04||PSC||BG Asia Pacific Pte. Ltd||Woodside Energy (Myanmar) Pte. Ltd.||Myanmar Petroleum Exploration & Production Co., Ltd|
|A-05||Unocal Myanmar Offshore Co. Ltd.||Royal Marine Engineering||-|
|A-07||Woodside Energy (Myanmar) Pte. Ltd.||BG Asia Pacific Pte. Ltd.||Myanmar Petroleum Exploration & Production Co., Ltd|
|Moattama Offshore Area||M-04||Oil India Limited||Mercator Petroleum Limited||Oilmax Energy Pvt. Ltd.|
|M-07||ROC Oil Co. Ltd.||Tap Oil Ltd.||Smart E&P International Limited|
|M-08||Berlanga Holding B.V.||-||-|
|Tanintharyi Offshore Area||M-15||Transcontinental Group||-||-|
|M-17||Reliance Industries Ltd.||-||-|
|M-18||Reliance Industries Ltd.||-||-|
|YEB||Oil India Limited||Mercator Petroleum Limited||Oilmax Energy Pvt. Ltd.|
|Offshore deep water blocks|
|Area||Block name||Type of contract||Company 1||Company 2|
|Rakhine Offshore Area||AD-02||PSC||BG Exploration and Production Myanmar Limited||Woodside Energy (Myanmar) Pte. Ltd.|
|AD-03||Ophir Energy Plc||-|
|AD-05||Woodside Energy (Myanmar) Pte. Ltd.||BG Asia Pacific Pte. Ltd.|
|AD-09||Shell Myanmar Energy (Pte) Ltd.||MOECO|
|AD-11||Shell Myanmar Energy (Pte) Ltd.||MOECO|
|Moattama Offshore Area||MD-02||ENI Myanmar B.V.||-|
|Tanintharyi Offshore Area||MD-04||ENI Myanmar B.V.||-|
|MD-05||Shell Myanmar Energy (Pte) Ltd.||MOECO|
|YWB||Total E&P Myanmar||-|