Signing Operating Agreement: MOEE granted domestic entrepreneurs to drill SWs

The signing ceremony of the Operating Agreement for the systematic drilling of Standard Wells, jointly undertaken by the Ministry of Electricity and Energy, Myanma Oil and Gas Enterprise (MOGE), and domestic ethnic entrepreneurs, was held on June 30, 2026, at Office No. 6 of the Ministry of Electricity and Energy.

The Union Minister attended and delivered the opening speech. The Union Minister stated that previously permitted hand-dug oil well operations had been suspended. Currently, with the aim of reducing waste and loss of state-owned petroleum resources, ensuring long-term beneficial extraction and utilization, minimizing environmental impact, meeting domestic oil demand, and encouraging domestic entrepreneurs to invest their capital in productive sectors, the Ministry will systematically review applications from companies proposing to drill Standard Wells and grant operating permits accordingly.

He emphasized that the companies receiving approval must strive to advance through systematic well drilling operations to become oil entrepreneurs capable of competing internationally. Afterward, the Managing Director of Myanma Oil and Gas Enterprise clarified the regulations and requirements to be followed in operations. The Operating Agreement was then signed with the implementing companies, and the contracts were exchanged between the parties, it’s reported.