Myanmar to promote int'l energy cooperation

Myanmar National Energy Management Committee will promote international energy collaboration in the country, according to an announcement issued by the committee on Wednesday.

The announcement included nine points of national energy policy based on the "Myanmar Energy Sector Policy Draft Working Paper" drafted by international and national energy experts.

The committee is to implement short- and long-term comprehensive energy development plan, to institute laws, rules and regulations in order to promote private sector participation and to privatize state energy organizations in line with State Economic Reform Policy, said the announcement.

The committee will also promote energy efficiency and energy conservation.

The Research, Development, Design and Dissemination Institution will be established in order to keep abreast with international practices in energy resources exploration and development works, it said.

The National Energy Management Committee and Energy Development Committee are formed on Jan. 9, 2013 to propel the development of energy and electrical sectors.

Meanwhile, Myanmar produced 6.1 million barrels of crude oil and 13.162 billion cubic meters natural gas in the fiscal year of 2013-14, according to the Central Statistical Organization.

According to official statistics, foreign investment in Myanmar 's oil and gas sector amounted to 15.18 billion U.S. dollars as of October accounting for 30.22 percent of the total, ranking the second in Myanmar's foreign investment sectors line-up after electric power. Endi