State-owned Myanmar Oil and Gas Enterprise (MOGE) is expected to appoint firms to develop new offshore supply bases
in Myanmar later this year or early next year to support an anticipated
increase in upstream activities over the next few years, a company
official said Monday.
"We will inform interested parties to submit prosposals in the second week of August and they will be given three months to do so," the company official told Rigzone, adding that MOGE will decide on the selected parties in late 2015 or early 2016.
Fifty one companies, both local and foreign, have expressed interest in developing the new Myanmar supply bases, which are expected to take around 18 to 24 months to build, the official said.
Local media Myanmar Times reported Friday that interested companies -- from Australia, Brunei, China, Indonesia, Japan, Malaysia, the Netherlands, Saudi Arabia, Singapore, Thailand, the U.K., the U.S. and Vietnam -- may develop the new offshore supply base either individually or in a consortium.
MOGE has not decided on the number or the location of the offshore supply bases so far although Myanmar Times indicated that potential sites include Yangon, Dawei in Tanintharyi Region, Pathein in Ayeyarwady Region, Malawmyine in Mon State and Sittwe or Kyaukphyu in Rakhine State. Myanmar currently has only one offshore supply base facility at Yangon.
"MOGE will decide on the locations ... [possibly in consultations] with foreign [oil and gas field] operators," the official told Rigzone.
According to Myanmar Times, companies interested in developing the new offshore supply bases are required to provide their own land, suggesting that international firms will have to seek local partners for the projects.
The issue of new supply bases has become increasingly important as companies awarded 20 blocks in Myanmar's 2013 Offshore Bidding Round have or are preparing to commence exploration works. So far 19 production sharing contracts (PSCs) awarded in the 2013 Bidding Round by the Ministry of Energy in March 2014 have been signed, leaving only the shallow water Block M-7 PSC in the Moattama Basin yet to be concluded. However Australia's Tap Oil Ltd. reported Monday that the company and its local partner, Smart E&P International Ltd., are holding discussions with the Ministry of Energy regarding the award of the PSC for Block M-7. Tap Oil expects to sign the PSC in the third quarter of 2015 and intends to operate the Block. Australia-based Roc Oil Co. Ltd. -- acquired by China's Fosun International earlier this year and the original operator of Block M-7 -- withdrew from the PSC in April, resulting in a delay in the PSC signing. - See more at: http://www.rigzone.com/news/oil_gas/a/139927/MOGE_to_Name_Firms_in_End_2015_to_Develop_Myanmars_Offshore_Supply_Bases/?pgNum=1#sthash.gaFXJwxZ.dpuf
"We will inform interested parties to submit prosposals in the second week of August and they will be given three months to do so," the company official told Rigzone, adding that MOGE will decide on the selected parties in late 2015 or early 2016.
Fifty one companies, both local and foreign, have expressed interest in developing the new Myanmar supply bases, which are expected to take around 18 to 24 months to build, the official said.
Local media Myanmar Times reported Friday that interested companies -- from Australia, Brunei, China, Indonesia, Japan, Malaysia, the Netherlands, Saudi Arabia, Singapore, Thailand, the U.K., the U.S. and Vietnam -- may develop the new offshore supply base either individually or in a consortium.
MOGE has not decided on the number or the location of the offshore supply bases so far although Myanmar Times indicated that potential sites include Yangon, Dawei in Tanintharyi Region, Pathein in Ayeyarwady Region, Malawmyine in Mon State and Sittwe or Kyaukphyu in Rakhine State. Myanmar currently has only one offshore supply base facility at Yangon.
"MOGE will decide on the locations ... [possibly in consultations] with foreign [oil and gas field] operators," the official told Rigzone.
According to Myanmar Times, companies interested in developing the new offshore supply bases are required to provide their own land, suggesting that international firms will have to seek local partners for the projects.
The issue of new supply bases has become increasingly important as companies awarded 20 blocks in Myanmar's 2013 Offshore Bidding Round have or are preparing to commence exploration works. So far 19 production sharing contracts (PSCs) awarded in the 2013 Bidding Round by the Ministry of Energy in March 2014 have been signed, leaving only the shallow water Block M-7 PSC in the Moattama Basin yet to be concluded. However Australia's Tap Oil Ltd. reported Monday that the company and its local partner, Smart E&P International Ltd., are holding discussions with the Ministry of Energy regarding the award of the PSC for Block M-7. Tap Oil expects to sign the PSC in the third quarter of 2015 and intends to operate the Block. Australia-based Roc Oil Co. Ltd. -- acquired by China's Fosun International earlier this year and the original operator of Block M-7 -- withdrew from the PSC in April, resulting in a delay in the PSC signing. - See more at: http://www.rigzone.com/news/oil_gas/a/139927/MOGE_to_Name_Firms_in_End_2015_to_Develop_Myanmars_Offshore_Supply_Bases/?pgNum=1#sthash.gaFXJwxZ.dpuf
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