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Home  >>   Daily News  >>   Myanmar  >>Energy  >> Chevron to drill for oil in Rakhine Basin
NEW UPDATES Asean Affairs  27 March  2015  






Chevron to drill for oil in Rakhine Basin

A Chevron subsidiary will join the Myanmar state oil company to hunt for oil and gas offshore the small Southeast Asian country, according to a report by Fuel Tech on March 25.

Unocal Myanmar Offshore Company Ltd. has signed a production sharing contract on March 25 with the state oil company, Myanmar Oil and Gas Enterprise, to explore the Rakhine Basin.

The 2.6 million acre block lies 125 miles offshore northwest Yangon, the country’s largest city. The Chevron subsidiary will operate the block and hold a 99 percent stake in the project. The remaining 1 percent interest will go to Royal Marine Engineering Company, a Myanmar firm.

“Chevron is committed to exploring Myanmar’s energy potential,” Mr Brad Middleton, managing director of Chevron Asia South Business Unit said in a statement. “The exploration of this block is aligned with Chevron’s long-term strategy to find and develop resources that will help meet the growing energy needs in the Asia Pacific region.”



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ASEAN  ANALYSIS

This year in Thailand-what next?


AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 


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