Myanmar’s current term of the government has since 2011 allowed 38 offshore blocks for tender for gas exploration, leaving 13 blocks for further undertaking.
There have been a total of 51 offshore blocks reserved for gas exploration tender.
In addition, there are also 53 onshore blocks designated for such undertaking.
According to statistics, 17 companies are currently performing offshore natural gas drilling, while 19 other companies have been permitted to carry out similar activities on onshore blocks.
Oil companies are set to carry out oil and gas exploration along Myanmar’s coastline of Rakhine state and Tanintharyi region as well as the offshore region of Mottama.
About 2 billion cubic feet of natural gas is being extracted every day.
Since early this year, Myanmar has discovered large offshore gas reserve off Ngwesaung Beach, Pathein in southwestern Ayeyawaddy region and at the the deep-sea offshore block at Thalin (1)exploration well in Myanmar’s western Rakhine.
Drilling has been underway with the discovered gas fields.
The country’s oil and natural gas export earned over 4.6 billion U.S.dollars in the fiscal year 2014-15, standing the highest sectorally in the year.
The gas, produced from the Yadana, Shwe, Yetagun and Zawtika gas fields, were mainly exported to China and Thailand.
During last year, a number of companies from Britain, Australia, Japan, Italy and India respectively signed production sharing contracts with Myanmar to explore oil and gas at blocks off Rakhine coast, Taninthayi coast and Mottama – south Andaman basin.
Myanmar has abundance of natural gas resources especially in the offshore areas.
Meanwhile, foreign investment in Myanmar’s oil and gas sector amounted to 19.641 billion U.S. dollars as of the end of December 2015 accounting for 33.2 percent of the total and ranking the first largest sectorally in the country’s foreign investment line-up, statistics show. Enditem