Myanmar: MIC approves another offshore oil and gas supply base

Myanmar: MIC approves another offshore oil and gas supply base

The Myanmar Investment Commission (MIC) has approved an application to build
an offshore supply base on Made Island, in Kaukphyu, Rakhine State, by the
Myanmar Chemical & Machinery Company, according to an official MIC
statement.

The base will be developed on 146.7 acres of land in the Made village. The
approval was granted after gas was discovered at Block A-6 in Southern
Rakhine earlier this month.

Several other offshore supply bases have also received approval. Two will be
developed in the Ayeyarwaddy Region. Government-linked Myint & Associates
received approval to build an offshore supply base in the Nga Yoke Kaung Bay
area last May. A second company, SIM Co, received approval to build a base
within the same area earlier this year, according to a SIM interview with
Dealstreet Asia. SIM is currently exploring funding options for its
development.

Meanwhile, a third company, Myanmar Offshore Supply Base (MOSB), received
approval to build its base in the Mon State in July. The Singapore company
is currently completing safety tests and training locals in the Mon State
for positions at the base.

The oil and gas sector contributes to 23.6 percent of Myanmar's total
revenue, according to AMRO.

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Link to Original Article:
http://www.mmtimes.com/index.php/business/27244-mic-approves-another-offshor
e-oil-and-gas-supply-base.html

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com