Brunei, Myanmar eye more cooperation in oil, gas sector

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Asean Affairs 2 February 2015

Brunei, Myanmar eye more cooperation in oil, gas sector

BILATERAL relations between Brunei and Myanmar are expected to grow with more cooperation in the oil and gas sector, said the outgoing Myanmar envoy.

In a recent interview with The Brunei Times, Ambassador Daw Yin Yin Myint revealed that Brunei has expressed interest in making further investments in the oil and gas sector by expanding their exploration to the republic’s offshore fields.

“Myanmar is very rich right now in gas. We are exploring a lot, hopefully while also building ties with other nations,” she said at her official residence.

Brunei National Petroleum Company Sdn Bhd (PetroleumBRUNEI) acquired an 87.25 per cent interest as the operator of Myanmar’s onshore Block EP-1 when it signed an oil production sharing contract with Myanmar Oil and Gas Enterprise and International Group Enterprise Pte Ltd last year.

The state-owned company was awarded the onshore block, located 250km north of Yangon over an area covering 1,135 square km, after successfully winning the bidding round in 2013.

Myint explained that they are starting to carry out exploration of the onshore Block EP-1 in collaboration with Malaysian energy giant PETRONAS.

The exploration phase is slated to take place over the next two years.

“The officials told me that, if the result of the onshore exploration is good, they also have interest to expand to offshore exploration,” she said.

The outgoing ambassador, who is due to take up her next posting in Germany after completing a two-year term in the Sultanate, said growing cooperation in the oil and gas sector will further enhance bilateral ties.

Diplomatic relations between Myanmar and Brunei have been in place for 22 years since it was established in 1993.

The two countries have burgeoning bilateral relations with plans for further cooperation in areas such as agriculture, energy, trade and investment and health.

They recently agreed on a mutual tourist visa exemption to facilitate improving ties between the people.--The Brunei Times

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