SINGAPORE – Myanmar is releasing eight new offshore blocks in water depths of more than 2000 feet (609 metres) to oil and gas companies from India, China, South Korea and Australia, a government official told international media at a recent energy forum in Singapore.

Director General of the Energy Department U Soe Myint said out of the eight new offshore blocks, three have been awarded to Chinese state-owned CNPC and Daewoo International, while negotiations are underway to award three others to an Indian explorer and one other block to an Australian company.

U Soe Myint did not identify the Indian explorer or outline the details of the blocks awarded to CNPC and Daewoo.

However, India’s Economic Times reported ONGC Videsh was considering picking up stakes in three Rakhine offshore deepwater blocks: AD-2, AD-3 and AD-9 in the Bay of Bengal. Meanwhile, India’s Ministry of Petroleum and Natural Gas Secretary M S Srinivasan has suggested ONGC Videsh would sign deals for blocks in the Gulf of Mottama.

Other reports have said Daewoo will explore for gas in a new block near its A1 and A3 blocks off the Rakhine coast, while CNPC was awarded production sharing contracts for three new oil and gas blocks off the western Myanmar coast.

U Soe Myint also said Myanmar will be offering 14 more deepwater blocks for new investors. Companies interested in exploring for oil and gas are invited to contact the Energy Ministry for further details.

Each production sharing contract will carry an exploration permit of up to 25 years in the assigned acreage, with seismic and drilling programs expected to be proposed and conducted during each three-year period. – Energy Current