There are currently 53 onshore blocks and 51 offshore blocks in Myanmar and among them, exploration and production activities are being conducted at 35 onshore and 38 offshore blocks. The government will hold tenders for the free blocks 

The tender rounds will be open to foreign oil and gas companies, which will be encouraged to partner with local firms to carry out production activities at existing commercial wells. This is so local firms can benefit from foreign oil and gas exploration and production technologies.

However, the ministry is expected to relax its regulations by removing an existing rule making it mandatory for foreign firms to form local joint ventures. “It will no longer be mandatory to join with local firms. This will instead be made voluntary in the future,” she said.

The developments come at a time when production levels at existing wells are rapidly declining and after the MOEE invited local firms to register their interest in cooperating foreign firms earlier this month. However, no registrations have been made so far.

In contrast, 146 Myanmar firms registered with the MOEE during the last tender round in 2011. Unlike before though, no deadline to register has been stipulated, and companies could be taking time to make the necessary preparations, said Daw Khin Htay.

Source: https://www.mmtimes.com/news/govt-will-hold-oil-and-gas-production-tenders-year-end.html