Myanmar opens arms for the first foreign company to build an oil and gas supply base

Stocks and Financial Services Press Releases Thursday July 13, 2017 10:26
YANGON, Myanmar--13 Jul--PRNewswire/InfoQuest
MOSB Limited (MOSB), has received approval from the Myanmar Investment Commission (MIC) on 11th July, 2017 to build and operate a supply base in Mon State, with the endorsement from the Ministry of Energy.

The establishment of a supply base will support the fast-growing oil and gas industry in Myanmar and provide necessary infrastructure, health, education and employment opportunities to those in the region. This will further advance the industry by reducing travel distances and increasing efficiency.

"The planned offshore supply base would reduce the travelling time for oil and gas companies with Myanmar operations, which would otherwise have to travel to Singapore or Thailand," said Mr. Leonard Oh, Executive Chairman of MOSB.

MOSB is committed to the growth of Myanmar and to supporting the communities in Mon State. As part of the project, MOSB will invest in the development of wide-ranging infrastructure and improvements to existing transportation and telecommunication linkages. Additionally, MOSB has plans to provide educational, medical and social services to enhance the network for business growth and economic development which will ultimately benefit the entire country.

U Zaw Min Oo, Village Head of Whagarik Village, Mon State said, "I am very happy and welcome this project because I believe it will support the local community to improve transportation,   education and health as well as electricity which we need now. Our local people will not need to leave the village and travel far for jobs as the project will create a lot of job opportunities for us. This project will definitely improve our standard of living in many different ways."

This will be the first foreign permit for a Supply Base for Myanmar, approved by the Ministry of Electricity and Energy.
About MOSB

MOSB company represents a joint venture between Two Fish Supply Base Limited of Myanmar and 2 Fish (SG) Pte Ltd of Singapore. MOSB is 80% owned by 2Fish (SG) Pte Ltd of Singapore. This is another effort by Singapore companies to create a joint effort to assist with the growth of the Myanmar economy.

Media Contact:
Yu Yu Maw
Havas River Orchid Myanmar for MOSB
Ph: +959794797489
yuyumaw@havas-ro.com

Latest Press Release

USD120,000 at stake in CIMBs 3D Conquest to unearth ASEANs top #digital talents Competition sets path for nurturing crucial skills in data science, FinTech and coding among tertiary students

CIMB Group Holdings Berhad ("the Group" or "CIMB") has launched the CIMB 3D Conquest, a competition that aims to identify and attract ASEAN's top creative, young digital talent with an agile and entrepreneurial mindset. Open to all tertiary students, the...

Allianz to become Worldwide Olympic Insurance Partner

The International Olympic Committee (IOC) and Allianz today announced that the insurer will join the "Worldwide Olympic Partner" (TOP) Programme in 2021. Through this sponsorship agreement, Allianz will work with the IOC to provide innovative and...

BYFX Global Co., Limited Announces Business Launch

BYFX Global Co., Limited (BYFX Global) today announced the launch of its retail and institutional business -- offering clients around the globe top-tier liquidity and online OTC trading for Spot FX and Spot Bullion[1]. Striving towards financial...

2018 Robot World to Suggest Direction for the Fourth Industrial Revolution

Showcasing the latest robot technologies from around the world, the 2018 Robot World will be held at KINTEX, Korea from October 10-13, 2018. The Robot World (eng.robotworld.or.kr/wp), celebrating its 13th anniversary this year, consists of four main...

ชวนผู้ประกอบการเรียนรู้เส้นทางความสำเร็จของสตาร์ทอัพแอปพลิเคชัน เคลมดิ อังคาร 25 ก.ย. นี้

ตลาดหลักทรัพย์ฯ ขอเชิญผู้ประกอบการ Social Enterprise (SE) SMEs และ Startup ร่วมอบรมครั้งพิเศษในโครงการ SET Social Impact Gym หัวข้อ "Fintech vs Social Startup... Lesson Learned..." พบกับสตาร์ทอัพเจ้าของแอปพลิเคชัน "เคลมดิ" (Claim Di)...

Related Topics