One hundred and thirty firms from 22 different countries will exhibit a range of services and products at Burma’s inaugural oil and gas trade fair, which is to be held at the Myanmar Convention Centre on 15– 17 October.
The event – known as Oil & Gas Myanmar 2014 – will showcase a number of international exhibitors, including strong representations from Singapore and the UK, as foreign companies look to launch themselves into Burma’s potentially lucrative energy sector.
“Providing international businesses with a gateway to enter Myanmar’s [Burma’s] oil and gas industry, we will begin to see an influx of foreign companies, building and growing a more robust value chain of support services,” said Carol New, the senior project manager for the event’s co-sponsor, Singapore Exhibition Services, speaking to state media.
“Having released its oil and gas resources to the international market, many international firms are looking for local agents and partners, as well as setting up operations in Myanmar,” she added.
Representing domestic energy firms, the Myanmar Oil and Gas Services Society (MOGSS) said it welcomes the inaugural industry exhibition.
“The event not only creates access for international firms to enter Myanmar, but also for existing energy companies to engage and easily source for suppliers,” said MOGSS Chairman Kyaw Kyaw Hlaing, cited in state-run The New Light of Myanmar on Tuesday. “The industry is certainly headed down a path of rapid growth and will need a healthy pool of support services and suppliers to thrive and prosper.”
Burma’s Ministry of Energy recently approved a number of domestic and foreign companies to explore 24 onshore and 20 offshore blocks. Following a competitive tender bidding process, in March the ministry announced 20 winning bids for 30 offshore blocks. Major foreign players such as ConocoPhillips, Royal Dutch Shell and Total all won offshore exploration contracts.
A joint bid by British E&P firm BG and Australia’s Woodside was the single largest winner in the bidding process, earning the rights to explore and develop two shallow-water and two deep-water blocks. Netherlands-based Royal Dutch Shell, the largest oil company in the world, was granted three deep-water blocks, the most allotted to any single company.
Since July, the Myanmar Investment Commission has approved more than 15 new oil and gas companies to invest in onshore blocks, all of whom have signed production-sharing contracts with the government.