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Major offshore supply base in Myanmar inked as VDB Loi advises

March 3, 2015

VDB Loi assisted an international developer of port terminal infrastructure with one of Myanmar’s first major offshore supply base facilities. The VDB Loi team assisted with securing a contract with a state Government in Myanmar to construct, manage and operate a new port facility, advised on the corporate structure, the land use rights and drafted the project documentation. The facility will in total cover over 48 hectares. It is a fully integrated marine supply base created to serve the national oil and gas industry.

In the same space, VDB Loi advisors earlier assisted on a transaction involving Boustead and Wah Seong Group of Companies and Myanmar Integrated Ports Limited, a 150,000 sq m private port owned by Austin Navigation Asia Pte. Ltd., which began operating in 1998. This facility specializes in handling general cargo, including cars, car carriers and rolling stock, as well as edible oils.

The oil and gas exploration sector in Myanmar has taken an upswing after the newly opened Southeast Asian country tendered out over 30 blocks, mostly to foreign oil exploration companies including Shell, Statoil and Reliance.

With strong teams both in Yangon and in Nay Pyi Taw, VDB Loi is one of Myanmar’s leading legal and tax advisory firms. The firm is particularly recognized for its experience in oil and gas, mining, power, TMT, real estate, tax, regulatory and corporate M&A. The firm also has a presence in Cambodia, Indonesia, Laos and Vietnam, and representations in Singapore and Tokyo.