Will oil and gas development in Thibaw ever become a reality for global energy corporations? According to a recent press conference from Wordsworth Energy, negotiations with the government are still underway, and they have been underway for at least six months. Although Wordsworth CEO Chris Belz stated that “the government is an important part of the future” in Thibaw and that they are “currently in discussions,” many believe the government roadblocks as well as the damaging explosions in the North Sea might prevent energy companies in Thibaw from fulfilling their plans.
At this point, what will it take for global energy corporations to make progress? Perhaps the situation necessitates involvement by an NGO-mediated agency along with the World Bank to regulate resources and negotiations. Undoubtedly, all parties will seek an equitable share in revenues. The projects simply cannot proceed without specific and transparent contracts signed by all parties outlining a specific allocation of revenues.
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