Oil & Gas Companies Meet in Myanmar to unveil NEW Round of Bidding & Upstream Investment Potential

PRLog (Press Release) - Aug. 7, 2012 - The Myanmar Oil, Gas & Power sector is the last frontier market in South East Asia and the Myanmar government aims to accelerate growth by encouraging foreign direct investment.  Organized by Myanmar's Ministry of Energy and CMT, the 2nd MOGP Summit is the platform for key officials, global and local energy/power companies and investors to receive first-hand information on latest regulatory reforms, oil and gas fiscal regime (e.g. Production Sharing Contract) and tax structure updates.  The official speakers' panel will present investment opportunities as the second round of bidding invitation commence for the upstream oil, gas as well as electric power sector.  Participants can also find out how they can participate in this growth and development from leading oil and gas operators in Myanmar.  The first MOGP Summit (March 2012) was successfully organized and attended by over 150 companies  from more than 30 countries.

Myanmar President U Thein Sein announced in June that the country will embark on a “second wave of reforms” in  the Myanmar’s Energy Sector to encourage and increase participation from the private sector and foreign investment.  

According to U Soe Myint, former Director-General from the Ministry of Energy, this new phase of reform calls for:
•   A National Energy Management Committee is to be established at Planning Commission, for overall matters for the energy sector and to implement National Energy Policy for short and long term objectives
•   The need to manage a systematic link between energy and electricity to meet the requirement of the country
•   The need to trim down the state-own business while encouraging privatization
•   The need to diversify types of fuels used for electricity generation
•   The need for relevant pricing policy for energy, reflecting investor comfort and end-user affordability, in line with the international market practice.

Currently, Myanmar is inviting prospective IPPs and PPPs for the electric power sector and discussions are already on going.  Official speakers from Ministry of Electric Power (1) and (2) will lay out their requirement to new power plants increase the power supply capacity, fuel mix and requirement, and their role to facilitate foreign investment.

In the oil and gas sector, details on the Second Round of bidding invitation will be discussed at this 2nd MOGP Summit, by the officials from Ministry of Energy, that includes bids for deep and shallow-water blocks and onshore blocks.  U Soe Myint also commented that there are already enquiries from energy majors, NOCs, IOCs on the imminent prospects of acquiring E & P blocks and opportunity of implementing energy infrastructure development projects in Myanmar.  The summit will also highlight Exploration and Production (E&P) project developments from leading oil & gas operators in Myanmar, current oil & gas infrastructure and future plan and gas market/pipeline opportunities.

This summit will host full attendance from key officials from Ministry of Energy, Myanmar Oil and Gas Enterprise (MOGE), Ministry of Electric Power (1) and (2), as well as representatives from local oil, gas and power companies.  2nd MOGP Summit aims to bridge the connection between potential foreign investors and local companies, to tap into the potential in the booming oil, gas and power sector in Myanmar.  

More details of the Summit are available on the Event Website at http://www.cmtevents.com/aboutevent.aspx?ev=120942

2nd MOGP Summit will be held at the Sedona Hotel Yangon, Myanmar.  For registrations and enquiries, please contact Fu Huiyan at huiyan@cmtsp.com.sg or +65 6346 9113.