Myanmar will let foreign companies bid for full control of new offshore oil and gas blocks that could be offered in April, removing a requirement that they take a local partner, a senior Energy Ministry official said.
In this photo taken on Feb 22, 2013, gasoline filled in to plastic bottles are on display at a roadside shop in Mong Pan, Northern Shan estate, Myanmar. Myanmar plans to put over 20 offshore oil and gas exploration blocks up for auction by April, as the country pushes to attract foreign investment and expertise to help close the gap between domestic energy supply and demand. (AP Photo/Gemunu Amarasinghe)
"Arrangements are under way to invite bidding for about two dozen offshore blocks in April. The significance of this round will be that investors won't have to enter mandatory joint ventures with local companies," said the official, who declined to be named as he was not authorised to speak to the media.
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