Burma 'offering 23 offshore blocks'

Reform: The Burmese city of Rangoon.

Round rumours: Some 23 offshore blocks said to be up for grabs

REUTERS/SCANPIX

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Bill Lehane ,

News Wires

 18 July 2012 10:25 GMT

Burma has reportedly invited international interest for 23 new offshore blocks in a wider than expected licensing round.

The offer includes 17 deep-water blocks and six shallow-water blocks located in the Rakhine, Mottama and Tanintharyi offshore areas in the Bay of Bengal and Andaman Sea, according to a presentation distributed to investors in Singapore this week, Dow Jones Newswires reported.

The blocks, none of which have been explored by multinational oil companies before, will be awarded through "direct negotiations", with state player Myanma Oil & Gas Enterprise (MOGE) taking a stake of between 15% and 25% in each.

The block winners will be granted an exploration period of up to six…

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