Despite the political and social turmoil in Myanmar, South Korea’s Posco International is sending a second deep-water drilling rig to the troubled Southeast Asian state to continue development work at the Shwe gas field.
There is a high risk that political turmoil in Myanmar will negatively affect the energy sector, however, Chinese companies look set to benefit from the tumultuous environment, according to Fitch Solutions Country Risk & Industry Research.
Myanmar faces a potential energy crunch following a bloodless military coup that is set to delay urgent upstream investment and derail vital liquefied natural gas (LNG) import projects.
The apparent overthrow of the Aung San Suu Kyi administration by the Myanmar military threatens more than $1 billion of potential upstream investment in the Southeast Asian nation.
Saudi Aramco has signed new international technology deals, with local content playing a major role.
McDermott International has won the front-end engineering design (FEED) contract for Posco's Shwe Phase 3 gas field development, offshore Myanmar.
One of the world’s leading manufacturers of high performance filtration and separation technology has secured spares orders worth $5million for Asia’s largest gasification projects.