Natural resources (Myanmar), Natural resources

Oil
State-owned Myanma Oil and Gas Enterprise (MOGE) is responsible for oil and gas exploration in, and production from, the country's 19 onshore and three major offshore fields.Myanmar opened its hydrocarbon sector to foreign investment in late 1988. By 2011 the sector attracted USD13.5 billion in foreign investment from numerous energy companies from Australia, Canada, China, Indonesia, India, Malaysia, Russia, South Korea, Thailand, the UK and Vietnam. However, foreign investment has largely been drawn to Myanmar's natural gas rather than crude oil resources, with the result that oil is set become an increasingly marginal component of the country's energy sector.

Oil
According to US Energy Information Agency (EIA) data, crude oil production has fallen from 21,350 barrels per day (bpd) in 2008 to 18,000 bpd in 2009. Other preliminary data points to a recovery of around 21,000 bpd in 2010.

The complete article appears in the following publication:
Publication Title Sentinel Security Assessment - Southeast Asia
Publication date Oct 18, 2011
Section Natural resources
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