Myanma Oil and Gas Enterprise (MOGE), a state-owned company responsible for the upstream oil and gas sector under the Ministry of Electricity and Energy of the Republic of the Union of Myanmar, plans to establish three joint ventures with international service companies by 2H 2017.
The partnerships will focus on onshore seismic acquisition services, onshore drilling services, and onshore pipeline construction and maintenance services.
MOGE said the main goals of these joint ventures are to strengthen its technological know-how, upgrade its workforce, gain access to financing, adopt international best practices, and widen market access.
The group had initially launched a public invitation for interested parties to submit a letter of expression of interest (LEOI) in June 2014.
It is now launching a request for proposal (RFP) in the form of an open tender to interested parties, including but not limited to the LEOI respondents.
The RFP, which includes guidelines for submission, can be purchased starting today (24 March), and applications must be submitted by 24 April.
After 54 years of isolation under military rule, the Myanmar government is now keen to attract international oil companies and western technology to help exploit its large oil and gas resources.
Primarily a gas exporter, the country is home to approximately 10 Tcf of natural gas, mostly located in four offshore fields: the Shwe field in the Rakhine basin, and the Yadana, Yetagun, and Zawtika fields in the Moattama basin. Oil reserves amount to around 50 MMbbl.
According to the Ministry of Commerce in the 2015-16 fiscal year, Myanmar earned over US$4.3 billion from exports of natural gas - mainly to Thailand and China.
Since transitioning from military dictatorship in 2011, Myanmar has had two oil and gas bidding rounds.
While the first tender in 2011 failed to gain much popularity among oil majors; the second bidding round in 2013 attracted the interest of several international oil and gas companies, and some 36 block were awarded.
Among the recipients were Statoil, Chevron, Shell, Total, ONGC Videsh, PTT Exploration and Production (PTTEP), and Eni, among others.