The state-owned Myanmar Oil and Gas Enterprise (MOGE) under the Ministry of Electricity and Energy signed Operating Agreements with local private companies on 30 June to develop and produce oil through standard well drilling projects.

The signing ceremony, held at the ministry’s Office No. 6 in Nay Pyi Taw, was attended by Union Minister U Ko Ko Lwin, deputy ministers, senior ministry officials and representatives of the participating companies.

Speaking at the event, the Union Minister said the government had discontinued previously approved traditional hand-dug oil well operations and would instead promote standard well projects to ensure the sustainable extraction of national oil resources, minimise environmental impacts, increase domestic crude oil production and encourage local investment in the energy sector.

He added that companies would be selected through a systematic review process, while crude oil produced under the projects would be refined and supplied to state-owned refineries, helping to meet the country’s energy demand. The minister also urged the companies to create employment opportunities for local communities, contribute to regional development and strengthen their capabilities to become internationally competitive oil operators.

Following the remarks, MOGE’s Managing Director outlined the operational requirements before signing and exchanging the agreements with representatives of the participating companies.