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Burma’s offshore block winners to be announced in Feb

The Burmese government will pick the winners bidding for 30 new energy exploration offshore blocks this month, a senior Thai Energy Ministry has said. Thailand’s PTT Exploration and Production Plc is among the bidders.

“We are nearly at 100 percent evaluation of the 2013 offshore bidding round and will announce the results in February,” The Irrawaddy quoted Win Maw, the deputy director-general of planning, as telling Platts, a US-based energy analyst firm.

The Burmese official spoke with the US firm in an oil industry meeting in Tokyo, The Irrawaddy said.

PTT Exploration and Production Plc is among international firms and consortium competing for the new licence of 30 blocks in Burmese waters. Others include Petronas of Malaysia, Mitsui Oil of Japan, and Shell of the Netherlands.

But the official said contracts on production sharing with the bid winners could take months before they are ready for signing, it added.

Win Maw added that natural gas and oil to be found in the new drills will supply local needs first before it will be allowed for export. Domestic demand is a priority, he said.

Burma has three offshore fields at the Yadana, Yetagun and Shwe sites, and most of the production is exported either to Thailand or China.

This article was originally published in the Bangkok Post on 9 February 2014.



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