Burma 'opens door' on offshore blocks

'Full right of entry': off Burma

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Steve Marshall ,

News Wires

 06 March 2013 09:34 GMT

Foreign companies will be allowed to bid for full control of offshore blocks to be offered in a Burma licensing round set to be launched in April as a requirement that they team up with a local partner has now been dropped, according to a report.

Burma will invite bids for around 25 blocks in both deep and shallow water in the upcoming tender, having launched an onshore round for 18 tracts in January with a closing date for bids of 16 March, a senior Energy Ministry official told Reuters.

Bidders for the onshore blocks are required to have local partners and, as a result, about 100 Burmese entities have rushed to register with the ministry to enter into partnerships with foreign players.

However, the official said: “Only a few of these local companies have any experience in the oil and gas industry. I think this requirement might…

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