Raisama Energy (ASX: RAI) has reached a formal alliance with Myanmar company Chinthe Energy to pursue oil and gas projects in the country.
The partners plan to evaluate and, if deemed appropriate, in the upcoming release of oil and gas blocks put out by upstream regulator Myanmar Oil and Gas Enterprise.
Myanmar is highly prospective for oil and gas as recognised by both large and small players and Woodside Petroleum’s (ASX: WPL) recent investment.
While it had previously lacked investment due to the prevailing political environment, recent steps toward a full democracy and open society have stimulated investor interest and also an easing of sanctions by the U.S.
Notable producing fields include the Yadana gas field operated by French supermajor Total.
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