Myanmar’s Oil and Gas Blocks: Contracts, Compliance and Licensing Issues

Myanmar is a fertile and resource-rich country strategically located in the heart of Asia. Although Myanmar has great potential for business investment, so far it remains a largely untapped market – rich in natural resources and a young population ready to work. According to proven records, Myanmar commands reserves of 50 million barrels of crude oil and 283 billion cubic meters of natural gas. However, figures provided by the national oil company, Myanmar Oil and Gas Enterprise (MOGE), estimate 226 million barrels of crude oil and 457 billion cubic metres of natural gas.