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Myanmar 2013 Offshore Bidding Rounds | Myanmar Govt. Tenders & Bid Rounds | Investment Opportunities in Myanmar


EPD, Ministry of Energy, Myanmar, APPROVED (Reg.Sr.No.137) MiTA Myanmar @ ISBC (Investment & Strategic Business Consulting Company) as Myanmar-national Company to be local partner for bidding for Oil & Gas blocks in Myanmar.
You may please contact us as a Preferred Choice, for more information about potential Myanmar Local Partners and MiTA’s investment advisory, management consulting, engineering services, EIA, CSR, recruitment/training, local content management, liaison, representation, agency services, etc.

Myanmar-offshore-bidding-rounds2013


The closing date and time for submission of “the letter of Expression of Interest” is 14th June 2013 (Friday) at 16:30 hours at EPD, MOE office.

i) Required Documents To Submit EOI: AOA, MOA, COI, Latest Annual Report, Latest Financial Report (or) Statement, Detailed Track Record etc; to be endorsed by respective Myanmar Embassies.

ii) Standard Terms and Conditions for Shallow Water Blocks

  • 6 months to conduct for EIA / SIA / EMP and submit Report to MIC approval.

  • Study period = 6 months ~ 1 year.

  • 6-year intensive Exploration period (initial 3 years + extension 3 years).

  • Data fee, signature bonus and work program and budget are to be proposed by bidder.

  • Data fee to be paid within 30 days after MIC approval on EIA/SIA/EMP Report.

  • Signature bonus to be paid within 30 days after entering into Exploration period.

  • Compulsory cooperation with a Myanmar-national company.

  • Royalty 12.5%.

  • Production split = MOGE vs. Contractor ~ 60-40/65-35 basic, depending on water depth.

  • State participation = 20%, increase to 25% if reserve is greater than 5 TCF.

  • Cost recovery = 50% (less 600 feet) ~ 60% (more than 600 feet).

  • Training fund = 50,000 USD (Exploration period), 100,000 USD (Production period).

  • R&D Fund = 0.5% of contractor profit.

  • Income tax = 25%, tax holiday 5 consecutive years. (As revised in 2012)

  • Governing Law = Myanmar Law.

  • Dispute settlement = UNCITRAL Arbitration Rules.

  • 20-year Production period, may be extended according to Petroleum Sales Agreement.

  • Domestic market obligation= 20% crude oil, 25% natural gas of contractor at 90% of fair market price.


You may please contact MiTA Myanmar @ ISBC (Email: ISBC@mitaservices.com.sg ) for more info & Myanmar Local Partnership (Myanmar-national company) to bid for the Myanmar’s oil & gas blocks.

iii) Not to be missed opportunities to invest in a new emerging country, in the golden lands of Myanmar.

iv) Another about one more month to go to submit EOI.

  • For offshore (shallow & deep-water) blocks all new parties can submit EOI and possibly get shortlisted to submit proposals

  • COMPULSORY COOPERATION with a Myanmar-national company for onshore & shallow-water blocks (11 shallow blocks —–Myanmar’s block sizes are much larger than most of the offshore blocks being offered by other countries and as well as many of these blocks are closer to producing blocks).



You may please contact MiTA Myanmar @ ISBC for local-partnership for getting a professional and most reasonable partnership proposal.

Investment & Strategic Business Consulting Company (ISBC is our Myanmar-national local company) is now registered with EPD/MOGE and EPD has also included ISBC’s name on its website in the list of local Myanmar companies selected to cooperate / partner with foreign companies in the on-going bidding for (1) onshore and (2) offshore blocks bidding.

For more information, as well as local partnership, you may please contact MiTA Myanmar /ISBC, Email: ISBC@mitaservices.com.sg , detailed contact information is given below.


Standard Terms and Conditions for Deep Water Blocks:

  • Generally no data fee, but some deep water blocks already had data & information.

  • 6 months to conduct EIA / SIA / EMP and submit Report to MIC approval.

  • 2 years for Technical Evaluation Assessment (TEA)

  • 6-years intensive Exploration period (initial 3 years + extension 3 years).

  • Work program and signature bonus are to be proposed by bidder.

  • For blocks with data, Data Fee to be paid within 30 days after MIC approval on EIA/SIA/EMP Report.

  • Signature bonus to be paid within 30 days after entering into Exploration period.

  • Royalty 12.5%.

  • Production split = MOGE vs. Contractor ~ 60-40/65-35 basic, depending on water depth.

  • State participation = 20%, increased to 25% if reserve is greater than 5 TCF.

  • Cost recovery = 50% ~ 70% (over 2000 ft)

  • Training fund = 50,000 USD (Exploration period), 100,000 USD (Production period.

  • R&D Fund = 0.5% of contractor profit.

  • Income tax = 25%, tax holiday 5 consecutive years. (As revised in 2012)

  • Governing Law = Myanmar Law.

  • Dispute settlement = UNCITRAL Arbitration Rules.

  • 20-year Production period, may be extended according to Petroleum Sales Agreement.

  • Domestic market obligation= 20% crude oil, 25% natural gas of contractor at 90% of fair market price.



For more information, as well as local partnership, you may please contact MiTA Myanmar /ISBC, Email: ISBC@mitaservices.com.sg , detailed contact information is given below.

You may please contact MiTA Myanmar @ ISBC for local-partnership (Myanmar-national Company) for getting a professional and most reasonable partnership proposal. Investment & Strategic Business Consulting Company (ISBC is our Myanmar local company) is at Sr.No.137 in the “List of local Myanmar-national Companies” approved by EPD, Ministry of Energy, Govt. of Myanmar to cooperate / partner with foreign companies in the on-going bidding for (1) onshore and (2) offshore blocks bidding.

ISBC is at the bottom of the list because ISBC applied only in April 2013, when we were sure that there is suitable environment to participate in the bidding & conduct business maintain our business ethics and complying with anti-corruption laws of USA & UK.

MiTA Myanmar Investment Conferences & Exhibitions
MiTA Services Pte Ltd

10 Anson Road
# 10-11 International Plaza
Singapore – 079903

Email:

business@mitaservices.com.sg
Phone: +65 6866 1430
Fax: +65 6491 1206

More Info @ Contact Us Page
Registration No. 200921674D

MiTA MYANMAR @ ISBC Co Ltd
# 604, Building B, Delta Plaza
Shwe Gon Daing Road
Yangon, Myanmar
Email: isbc@mitaservices.com.sg
Phone: + 95 94201 10451,
+95 94201 10666
Fax: (Singapore) +65 6491 1206

More Info @ Contact Us Page
Myanmar Reg No. 2442/2011-2012

MiTA Services

• India • Myanmar • Thailand • Vietnam• Japan
• USA • Europe

 

MiTA's specialty in Myanmar

In Myanmar we are providing consulting services covering all aspects of business: market research, investment advisory, engineering & technical support, project management, liaison & business representation (agency), local partner search & selection, due-diligence, business organization set-up, Myanmar company incorporation / registration, local content development, executive search & recruitment, training & development, office management services, etc. Our Office Management Services (OMS) include renting of office premises, furnishing, installing phone, fax & internet, providing secretarial, administrative staffs and managing the office on-behalf of our Clients.

Corporate Social Responsibilities

MiTA Services is committed to Green Environment, Sustainable Development and Value Creation for the Ecological Society where man coexists with nature. MiTA Services commits to use minimal papers in office work to save the trees and encourages everybody using electronic media as much as feasible. MiTA's research, engineering design and management practice will follow green business philosophy.