About 20 companies have dropped out of the final phase of bidding for the oil and gas blocks off Myanmar’s coast. While 61 companies were qualified to bid, only about 40 submitted applications. The processing of applications is being carried out currently. Myanmar is offering 11 shallow water and 19 deep-sea blocks. Those selected to develop shallow water blocks will be required to work with local partners, while foreign companies will be able to develop deep-sea blocks on their own as few local companies have experience in this area.
