Myanmar is currently one of world’s hotspots for offshore oil & gas exploration. An efficient Offshore Supply Base (OSB) will be a critical requirement to support this activity in terms of lower costs and increased efficiency. Myint & Associates intends to develop a worldclass Offshore Supply Base (the M&AOSB) in Nga Yoke Kaung which will be a positive development for this part of Myanmar. Fully conscious of the local environmental and cultural beauty M&AOSB will be developed in a manner that it has a minimal impact on the environment and should lead to enhancement of the lives of the local communities.
In 2014/2015, the Government of Myanmar awarded 20 international consortia rights to explore and produce offshore blocks via the signing of Production Sharing Contracts (PSCs). The terms of those PSCs require the Operators of those blocks to invest in exploration activities, including the drilling of a specified number of wells, over a period spanning up to seven years. The Rakhine basin is proving to be particularly interesting and may become the key energy provider for Myanmar in the future. With Myanmar’s economy growing strongly this energy is much needed.
The Nga Yoke Kaung bay location is ideally located to serve almost the entire Myanmar offshore sector within a 24 hour sail by dedicated Supply Vessel. M&AOSB selected this site after an extensive site selection study in 2015. Since then it has undertaken a number of studies including environmental and social impact studies. M&AOSB has held extensive stakeholder meetings with regional governments and villages adjacent. EIA and SIA reports have already been submitted. M&AOSB intend to be operational and ready for business by the end of 2019.