Oil & Gas Myanmar 2014 to Unlock Business Prospects for Myanmar’s Transformational Oil & Gas Industry
Inaugural oil and gas trade event will serve as strategic gateway for foreign entrants into the local market
Singapore, 16 October 2013 – A brand new trade event, Oil & Gas Myanmar 2014, which focuses on Oil & Gas Exploration and Production & Refining, will be held at the Myanmar Convention Centre (MCC) from 15 to 17 October 2014.
Energy sector marked for fast advancement
Myanmar has in possession, 7.8 trillion cubic feet of proven natural gas reserves, an estimated US$75 billion bounty of natural gas, and 50 million barrels of crude oil. Backed by recently relaxed foreign investment regulations, Myanmar’s market is favourable for foreign entry, in particular from China, Thailand, Indochina and other bordering countries/regions.
Some of the world’s largest oil and gas companies with vested interests such as China National Offshore Oil Corporation (CNOOC), CNPC, Daewoo, ESSAR, Nobel Oil, PetroVietnam, PTT Exploration and Production Public Company Limited (PTTEP) and Total, are actively involved in onshore and offshore projects. These include the Yadana and Yetagun Projects – two major offshore oil and gas projects; and the Zawtika and Shwe Gas Projects which when fully operational in the near future, will see oil and gas being exported mainly to Thailand and China.
Out of the 101 blocks available to foreign cooperation, 30 offshore blocks were offered for exploration activities in 2013. The country has begun its shortlist of bidders comprising China National Petroleum Corporation (CNPC), ConocoPhillips, ExxonMobil, Shell, Statoil, Total, and companies from Australia, India and Thailand. The Ministry of Energy has also recently awarded contracts for 16 onshore blocks to Eni, ONGC Videsh, Pakistan’s Petroleum Exploration, Pacific Hunt Energy Corp and Petronas. The contracts comprise of work to be carried out for petroleum recovery and also joint-cooperation for production.
Oil & Gas Myanmar to fuel new opportunities for growth
Wholly-owned and organised by Singapore Exhibition Services (SES), one of Asia’s most innovative and respected exhibition and conference organisers, Oil & Gas Myanmar 2014 will unveil an exceptional exhibition platform for the international and local oil and gas communities. Through the trade event, industry professionals will get to establish new and credible business contacts, exchange vital knowledge with experts and peers; peruse a comprehensive showcase of products and services dedicated to petroleum geosciences, exploration & production, and refining; and attain a deeper understanding of Myanmar and its untapped reservoir of investment and business opportunities.
More than 100 companies from 28 countries/regions are expected to gather at the MCC. Oil & Gas Myanmar is organised by the same team that is behind the hugely successful OSEA, Asia’s largest and most successful oil and gas trade event.
“Doing business in Myanmar has become much easier in the wake of its economic and business reforms. The country’s oil and gas sector is progressing at an exponential rate, and holds significant potential to grow even further. Oil & Gas Myanmar 2014 will play an integral role to nurture this potential, by narrowing the gap between the international and local industries, and raise the country’s international standing as a market that holds promise for vast business possibilities,” says Mr. Chua Buck Cheng, Project Director for Oil & Gas Myanmar.