Myanmar: Myanmar Close, but not Quite, Ready for Prime Time

Mar 27, 2014 | Daniel J. Graeber, OilPrice
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Energy majors from Norway's Statoil to BG Group are among the first to get the chance to explore frontier prospects off the coast of Myanmar. Global Witness says that, while the country has made important reforms to draw in investors, the sell off will be a test of the government's resolve.

Myanmar awarded dozens of offshore blocks from an auction that began nearly a year ago. A series of political reforms that began with general elections in 2010 have brought in major international investors and the oil and gas sector now makes up about $13 billion, or around 40 percent, of its total foreign investment.