Offshore oil and gas blocks in Myanmar
On 7 January 2013, Myanmar’s Ministry of Energy (Ministry) launched its long awaited bidding round for offshore oil and gas blocks. Bids were invited for 30 offshore blocks, including 19 deep water blocks and 11 shallow offshore blocks.
The Ministry opted not to require foreign oil companies to partner with local companies in relation to deep water blocks, however a local partner is still required to exploit shallow offshore blocks.
Offshore oil and gas blocks bidding process
International Oil and gas companies who wished to bid for offshore oil and gas blocks were invited to submitt a Letter of Expression of Interest to the Director General of the Ministry and to include*: –
1. Copy of Memorandum and Articles of Association
2. Copy Certificate of Incorporation
3. Copy Latest Annual Report
4. Copy Detailed Track Record
* Documentation to be endorsed for authenticity by the respective Embassy of the Republic of the Union of Myanmar in the applicant’s county of incorporation (or nearest Embassy).
Bidders who pass “pre-qualification” i.e. those who demonstrate they have the technical competency, financial capability, experience, expertise and technical know-how to conduct petroleum exploration and development work, will be presented with a General Overview of each block
· Proposal Standard Terms and Conditions explained to potential bidders
· Bidders submit up to three proposals together with proposed Terms and Conditions
· Bidders proposed Terms and Conditions are assessed