Myanmar: Myanmar’s Oil and Gas: Drilling in the Dark

Mar 29, 2014 | The Economist
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Companies will soon find out how much oil and gas there really is offshore.After a long wait, and several delays, Myanmar’s government will soon announce which companies have won the right to explore the bulk of its offshore oil and gas reserves. The outcome of the bidding for the 19 deep- and 11 shallow-water blocks is one of the most eagerly awaited events in the hydrocarbons industry. The competition attracted almost all the global giants, including Total, Shell, Statoil and Chevron. The winners expect to explore some of the most promising waters left in Asia, and possibly the world.