Statoil in 'Burma bid talks'

Shwedagon Pagoda in Yangon. Rangoon Burma Myanmar

Back on radar screen: Burma

AMANDA BATTERSBY

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By Steve Marshall and news reports

 29 January 2013 11:23 GMT

Norway’s Statoil is reported to be in concrete talks with a Burmese oil company for a possible joint bid on offshore blocks set to be offered by Burma in a licensing round later this year.

The door to the former pariah South-East Asian country’s prospective and largely untapped hydrocarbon play has been reopened for international oil companies as sanctions have been lifted following human rights reforms, including the release of political prisoners, by the Burmese regime.

Burma has now invited bids for 18 onshore blocks and prospective bidders are waiting for the launch of a second delayed licensing round for up to 23 offshore tracts – including some in deep water – expected this year.   

The country’s largest private oil company, MRPL E&P, has been approached by…

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