Overseas Delegation to Myanmar
13 Oct 2014 - 17 Oct 2014
All UK companies
The EIC is organising an oil and gas trade delegation to Yangon, Myanmar.
Delegates will have the opportunity to attend organised group meetings with key local players, as well as incorporating briefing meetings presented by qualified speakers with in-market experience and the opportunity to meet with local companies.Why Myanmar?
Since the country's elections in 2010, Myanmar has been caught in a whirlwind of change, excitement and intrigue. The government has demonstrated a general commitment to far-reaching political and economic reforms with new laws, policies and engagements. This has led to the removal of US and EU economic sanctions and a rising interest from the international business community in accessing opportunities in Myanmar.
Myanmar is a country with enormous economic potential based on its strategic location, size and stock of natural resources. It has in possession about 7.8 trillion cubic feet of proven natural gas reserves and 50 million barrels of crude oil, most of which have seen little onshore or offshore exploration. This represents the greatest opportunity for new exploration uncovered in recent decades. Out of the 101 blocks available to foreign cooperation, 30 offshore blocks and 16 onshore blocks were offered for exploration activities in 2013. The contracts comprise work to be carried out for petroleum recovery and also joint cooperation for production.
With the recently relaxed foreign investment regulations, Myanmar’s market is favorable for foreign entry. Foreign investment in Myanmar's oil and gas sector had reached over $14 billion as of the end of 2013, accounting for 32% of the country's sectoral foreign investment. Through foreign investments and explorations in oil & gas blocks bids, Myanmar aims to bring foreign companies’ technology, expertise and knowledge to the local companies while at the same time leveraging on the foreign counterparts’ financial capabilities. Some of the world’s largest oil and gas companies such as China National Offshore Oil Corporation (CNOOC), Daewoo, PetroVietnam, PTT Exploration and Production Public Company Limited (PTTEP) and Total are actively involved in onshore and offshore projects such as the Yadana, Yetagun and the Zawtika and Shwe gas projects.
Book before 21st April and receive a £100 discount off your booking.
For more information please contact firstname.lastname@example.org