Myanmar launches major new crude tender, braces for Western interest
AFPYANGON -- Myanmar opened up a major portion of its onshore oil blocks for bids Thursday, a move likely to see a surge in interest from Western firms after the removal of sanctions against the once-pariah state.
January 18, 2013, 2:15 pm TWN
A notice published in the state-run English-language New Light of Myanmar newspaper said 18 blocks were up for grabs in deals that would see firms partner with state energy companies, including the controversial Myanma Oil and Gas Enterprise (MOGE).
According to the MOGE website, the sites available for exploration would represent more than a third of the country's around 50 onshore blocks.
The tender would be the first since 2011, when most bidders were from Asian countries as tough sanctions and concerns about MOGE's governance and links to the former junta deterred wider participation.
Firms will be able to bid for up to three blocks each, according to the notice.