Myanmar discloses oil discoveries at EEF seeking potential investment
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Hsu / Myo Gyi (NP News) - Sep 8
Chairman of the State Administration Council and Commander-in-Chief of the Defense Services of Myanmar Senior General Min Aung Hlaing said, at 7th Eastern Economic Forum, that Myanmar has found two trillion cubic feet deposit of gas which will pave better potentialities in energy sector within next three years.
The discovery will provide possible developments in energy and industrial sectors of Myanmar, he said.
There are 51 offshore blocks in oil and natural gas sector; in which natural gas is found in eight. The gas found in the eight blocks has been extracted and sold domestically or exported to foreign countries, he said.
What is more, two trillion cubic feet deposit of natural gas has been discovered in Myanmar sea territory of the Bay of Bengal, which is projected to be extracted soon commercially, Senior General Min Aung Hlaing addressed in his speech.
“Similarly, we have discovered another potentiality of huge deposit of gas. Therefore, natural gas-based industrial sector will be developed with high momentum within next three years; and I hereby would like to invite all the investors to make investment in Myanmar’s energy sector.
The Chairman of the SAC invited representatives of businesses who attended the EEF to make investments in oil and natural gas sectors, mining, energy, and renewable energy sectors and development of infrastructure.