Myanmar bars new oil, gas investors

Myanmar bars new oil, gas investors

YANGON: Myanmar's military government has barred foreign firms
from onshore oil and gas exploration and production, opting to
reserve the operations for state enterprises, the Myanmar Times
reported on Monday.

The report did not say whether existing contracts with foreign
firms would be terminated.

The energy ministry has sent letters to foreign firms that are
seeking exploration and production rights for onshore blocks,
explaining that the blocks would be reserved for its Myanma Oil
and Gas Enterprise, the semi-official weekly newspaper cited
ministry official Soe Aung as saying. --AFP