Myanmar's Minister of Energy Discussed the Investment Opportunities Ahead at the Myanmar Oil & Gas Upstream Summit

The Minister of Energy, HE U Than Htay, delivered the opening keynote address at the first Myanmar Oil & Gas Upstream Summit held recently in Yangon, Myanmar to a packed delegation that included senior representatives from Shell, Petronas, BP, Exxon Mobil, Chevron, Woodside, PTTEP, Wood Mackenzie, Total. End Quote

(1888PressRelease) March 22, 2013 - The Minister used the three day Summit as a platform to address the upstream oil and gas industry and discuss the upcoming offshore block announcement: "The government of Myanmar took necessary actions recently required to implement the Extractive Industries Transparency Initiative (EITI)… The Ministry of Energy will make all of the terms and conditions [for bids] transparent and impartial, so the best proposals can be accessed and selected for award."

Myanmar's oil and gas sector is viewed as one of the most exciting with considerable investment opportunities available for global and local players. Recognised as the gateway to the Myanmar oil and gas industry, the Myanmar Oil & Gas Upstream Summit 2013 brought together over 230 attendees from around the globe and over 30 Ministerial officials from Myanmar.

The Summit provided the opportunity to discuss topics crucial to operating in Myanmar's upstream oil and gas sector, topics addressed included case studies that highlighted successful operations in the region, the recent announcement regarding onshore bids for exploration blocks and the imminent announcement regarding offshore exploration blocks. The third day also saw two workshops, the first led by Willy Olsen, Associate Director, The CWC Group & Senior advisor, INTSOK specifically examining Local Content, and the second by Merrick White, Senior Partner, King & Spalding LLP, examining Developing Domestic/Export Gas Projects.

U Zaw Aung, Director Planning from MOGE commented: "I think the 2013 Myanmar Upstream Summit is very valuable for us because so many of our foreign investors came for resolutions and they are getting more of an understanding from MOGE and the Ministry of Energy. I think this is good, particularly for them. It is a very valuable Summit."

The Ministry of Energy also hosted the Networking Drinks Reception which facilitated partnership building between international and local professionals. The Reception was opened by U Zaw Aung, Director of Planning at MOGE and the networking continued into the Gala Dinner, hosted by Total.

Supported by the Ministry of Energy of the Republic of the Union of Myanmar, once more, the Myanmar Oil & Gas Upstream Summit will return to Yangon in March 2014. Event Producer Gurpreet Hayre commented on the 2014 Summit: "With the continued support from the Ministry of Energy and the Myanmar Oil & Gas Enterprise, The Myanmar Upstream Summit has proven itself as the best possible meeting place at which discover and discuss new investment opportunities".

For more information about the Summit please visit www.cwcmyanmar.com

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