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Myanmar hands out 20 offshore exploration blocks

Previously off limits, Myanmar is entering a new era as it opens up the keenly sought after area of Asia

Myanmar's (Burma's) energy sector, previously off limits to most Western companies because of international sanctions, is poised to enter a new era following the award of 20 offshore exploration blocks, many in frontier waters. The long-awaited round, which offered access to some of the least understood, but most keenly sought-after natural gasfields in Asia, marks a turning point for the nation. Myanmar's proved reserves of natural gas at around 7.8 trillion cubic feet (cf), according to BP's statistical review of world energy 2013, pale in comparison to its southeast Asian neighbours.  But the government estimates far more gas than lies under the seabed. Explorers are banking on it too. S

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