Yangon: Myanmar plans to auction off more than 20 offshore oil and gas exploration blocks by next month.
The blocks are located in both the Bay of Bengal and the Andaman Sea with the majority being deepwater.
The country is keen to get big name energy majors onboard as it seeks to rapidly climb the energy ranks.
Myanmar natural gas output is significant at 1.475bn cu ft daily, putting it in 36th place globally. Its gas reserves are estimated at 410bn cu ft onshore and 11trn offshore, for 37th place in the global rankings, according to US and government statistics. BP, however, says proven gas reserves are smaller at 7.8trn cu ft, or 0.2 percent of the world’s total. [05/03/13]
