With the demise of the Soviet Union, Laos’ Communist leaders had to give the country’s backward economy a boost. Inflation has been brought under some measure of control, and foreign economists are more optimistic in the light of recent banking reforms and tighter fiscal policy. The Laos People’s Revolutionary Party appears committed to a more open economy supported by foreign investment.
In late 1989-1990 the government granted three large exploration permits to Hunt Oil, Enterprise and Monument. This has basically tied up most of the land in Laos’ better known basins. Seismic programs have been completed and drilling is scheduled to commence in 1995.
Laos has no infrastructure to support either exploration or exploitation. The road network is inadequate and the rail network non-existent. There is also little or no internal consumption, so that any oil discovery will be slated for export to help in bringing in much-needed foreign currency.For more information contact:
Petrel Robertson Consulting Ltd.
500, 736- 8th Avenue S.W.
Phone: (403) 218-1618
Fax: (403) 262-9135
This summary, part of Petrel Robertson’s 1995 summary of exploration and development opportunities in 31 countries around the world, has not been updated. Some of the information, particularly relating to political and economic issues, is thus out of date. It is included, however, to demonstrate the breadth and depth of Petrel’s work in each of these nations.