The Myanma Oil and Gas Enterprise signed production-sharing contracts with HNA Myanmar Oil & Gas Ltd for IOR-4 (Pyay) and IOR-6 (Myanaung), and with Future Engineering & Gold Mining Co Ltd for IOR-7 (Shwepyitha). Union Minister U Ko Ko Lwin emphasized the energy sector’s vital role in national development, particularly in supporting agro-based industries.The Pyay basin blocks hold significant potential, and modern exploration could yield major benefits. A block permitted in 2024 is already producing gas for electricity.
Source: The Global New Light of Myanmar