Myanmar signs oil and gas exploration deals with foreign companies

Myanmar Oil and Gas Enterprise of the Ministry of Energy have signed nine oil exploration contracts with seven foreign companies.

Local companies were also involved in all nine agreements as partners with companies from Hong Kong, Switzerland, Malaysia, India, Thai and Russia.

The companies in partnerships are EPI holdings Ltd. of Hong Kong and Aye Myint Khine Co. of Myanmar, Geopetro Int’l Holding Inc of Switzerland and A-1 Mining of Myanmar, Petronas Carigali Myanmar Inc. and UNOG of Myanmar, Jubilant Energy of India and Parami Energy of Myanmar, PTTEP South Asia Ltd. of Thai and Win Precious Resources of Myanmar, Istech Energy of Indonesia and SMA RT Co. of Myanmar, and CIS Nobel Oil Co. of Russia and Alister Co. of Myanmar.

Myanmar has been exporting products including natural gas to most Asian countries. Natural gas is the major export item to Thailand, which relies on Myanmar for 30 % of its energy consumption.

Currently, Myanmar consumes 1600 megawatts of electricity during the day time and 1800 megawatts at night. However, It generates 900 MW at daytime and 1100 MW at night.