2nd Myanmar Oil & Gas Upstream Summit to Occur 28-30 October 2014

6 February 2014 – LONDON – The CWC Group has announced that the second Myanmar Oil & Gas Upstream Summit will take place in Yangon on 28-30 October 2014. The event is supported by the Ministry of Energy of the Republic of the Union of Myanmar, the Myanmar Oil & Gas Enterprise and Parami Energy.

Myanmar is expected to play a significant role in the upstream sector in the region. In 2013, the Ministry of Energy offered 18 onshore and 30 offshore blocks for bid. The results are expected this month.

In 2009, the market for Myanmar’s oil & gas service industry was US$400m and has since grown to almost US$1bn in 2013. The market is expected to easily grow into a multibillion dollar industry, with new production sharing contracts (PSC’s) being signed.

The CWC Group’s Senior Producer and Project Manager, Gurpreet Hayre said that “With continued support from the Ministry of Energy and the Myanmar Oil & Gas Enterprise, The Myanmar Upstream Oil & Gas Summit has proven itself as the best possible meeting place at which discover and discuss new investment opportunities in Myanmar. Last year we attracted attendance from representatives from 35 different companies, who travelled to Myanmar from 19 countries. This year we expect to exceed those numbers.”

Ken Tun, the CEO of Parami Energy Group, the local partner organizing the summit, said “We find the summit to be very high profile, informative and educational. From it, we are able to understand how important it is for Myanmar to understand what we have and how to leverage our national assets to develop the country.

Last year, we also learned how important it is to develop local capabilities to make the industry sustainable. Myanmar may be one of the last countries to develop its oil and gas industry, but we have plenty examples to learn from. Countries like Norway to Nigeria. This time we expect to learn more.”

For more information about the Summit please visit www.cwcmyanmar.com