Myanmar is gearing up for a new and aggressive phase of exploration on both onshore and offshore acreage, where giant gas structures are being targeted in deep and ultra-deep waters.
The renaissance of exploration off Myanmar owes much to Daewoo International’s (now Posco Daewoo) giant Shwe gas discovery.
Years of US and European sanctions might have put paid to new investment by many players, but at the same time belief in Myanmar’s offshore hydrocarbon prospectivity had been lacking — until Shwe was found in 2004.
The
