IOCs heading to Myanmar’s offshore acreage
Production-sharing contracts in blocks offshore Myanmar.
A series of production-sharing contracts (PSCs) signed by foreign operators for exploration acreage offshore Myanmar in the past three months shows the growing confidence in the country’s investment potential, as the government continues to fine-tune its new terms and regulations for oil and gas producers.
Italy’s Eni is the latest, with an announcement on Tuesday that it had signed two PSCs for offshore blocks in the Rakhine Basin in an 80/20 partnership with PetroVietnam.