RH Petrogas/ Interra Resources

Myanmar O&G: Results of Myanmar’s offshore licensing round will be known in the last week of Dec or the first week of Jan, as industry players watch with keen interest at the tender award by Myanmar’s Ministry of Energy for 30 offshore oil and gas exploration blocks. The outcome of the tender will highlight the progress, or lack of one, as the country attempts to improve the climate for energy investments. SGX-listed companies with an exposure include RH Petrogas and Interra Resources. RH Petrogas has a previously signed a joint venture partnership agreement with Myanmar's IGE Co in Mar 07. IGE Co is run by the sons of Aung Thaung, who was the Minister of Industry for Myanmar from 1997 to 2011. In addition, group has also applied for pre-qualification to participate in Myanmar's offshore bid round for 30 blocks. Interra Resources, which derives ~58% of its revenue from Myanmar, is a beneficiary of increased foreign investments within the oil and gas sector in Myanmar. The group is banking on further investments by oil majors in Myanmar’s oil and gas infrastructure to open up new opportunities.