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Myanmar’s Ministry of Electricity and Energy (MOEE) on Friday announced that the tenders for the country’s offshore oil and gas production will be floated by the end of this year. Though international oil and gas companies will have access to the tender rounds, the rule that necessitates them to partner with local players for operations will most likely be relaxed. Myanmar presently holds 53 onshore blocks and 51 offshore blocks.
POSCO DAEWOO Corp. has handed a contract relating to phase two of the Shwe gas field development, offshore Western Myanmar, to McDermott International, Inc. and BHGE. The McDermott-led consortium won a FEED competition in 2017 followed by the execution of EPCIC tender, leading to the award of this project. The scope of EPCIC covers subsea umbilicals, risers, and flowlines (SURF) and subsea production systems (SPS) for an eight-subsea-well development.
India has proposed to build a pipeline from it’s east coast to deliver oil products to Myanmar. Zaw Aung, DG of the Ministry of Electricity and Energy’s oil and gas planning department said, “We have already connected (oil and gas) pipelines to China and Thailand, and we considered connecting (oil) pipelines to India as well as Bangladesh. This is under consideration to share petroleum products,” at the OTC Asia Conference.
McDermott International, the US engineering and construction company, is all set to bid for $5 billion contracts in the Asia Pacific as the region’s offshore oil and gas sector is slowly recovering. The company plans to place 20 bids for projects in Malaysia, India, Australia, Vietnam, Indonesia and Myanmar. Steady global oil prices with marked cost reductions in the upstream sector are encouraging companies to expand investments.