- On April 11, Myanmar’s national oil
company announced it was inviting bids for offshore blocks.
This is the first auction including deep-sea offshore
- Although the auction process has developed
considerably since its first auction in 2011, good local
partners and thorough due diligence is key for
- Oil and gas is one of the country’s
most developed sectors, and will spur reform in other
- The entrance of oil and gas majors will force
other sectors to develop, including banking.
Myanmar has opened a highly-anticipated auction of 33 oil
and gas (O&G) blocks, including deepwater blocks for the
first time. Although it is the country’s most
developed sector, foreign bidders are tipped to encounter
significant political risk.
O&G sector was one of the sectors least affected by
sanctions that nearly halted inbound investment from Europe and
the US. Several O&G majors remained in...