Myanmar government floated a tender for 18 out of its 50 onshore oil blocks

In order to attract foreign investment into its oil and gas sector, the Myanmar government has floated a tender for 18 out of its 50 onshore oil blocks. International oil companies will be allowed to bid for up to three blocks each. The country’s earlier tender in 2011 attracted mostly bidders from Asian countries due to international sanctions on the military-controlled regime. The country’s gas sector, in particular, in which China, Thailand, and India have a great interest, is becoming a key target sector for Western oil companies. The tender was launched after much delay, as Western oil companies such as the BG Group and ConocoPhillips had expressed concerns over the projects’ environmental, social, and biodiversity impact, as well as the country’s ability to maintain international standards of transparency.