Myanmar to explore large oil and gas field in Andaman SeaStaff writer ▼ | April 10, 2015
A joint-venture group of Myanmar and Canadian companies has been granted permission from the government to explore a newly discovered oil and natural gas field in the Adman Sea.
Energy business A joint-venture group of Myanmar and Canadian companies
It will be the largest natural gas field in Myanmar, and the exploration will be carried out by Canadian Foresight Group Pte Co Ltd, Century Bright Gold and TRG.
The exploration area is located in the deep sea, where water is thousands of metres deep and far from fishing areas. Most fishing boats work in waters that are between 200 and 1,000 metres deep, a fishing business owner said.
Although Myanmar is home to many offshore oil and natural gas projects, such as Yetagon and Zawtika in Tanintharyi Region, local communities receive little benefit from the projects.
The regional government asked for environmental impact assessments before granting these permissions, said regional economic and finance minister Thein Lwin. ■