Myanma Oil and Gas Enterprise explained

Myanma Oil and Gas Enterprise
Native Name Lang:my
Type:Public
Location City:Naypyidaw
Location Country:Myanmar
Industry:Oil and gas industry
Products:Petroleum
Natural gas
Petroleum products
Owner:Myanmar Government

Myanma Oil and Gas Enterprise (Burmese: မြန်မာ့ရေနံနှင့် သဘာဝဓါတ်ငွေ့လုပ်ငန်း; abbreviated MOGE) is a national oil and gas company of Myanmar. It was established in 1963. MOGE royalties and fees are estimated to generate in annual revenues, about half of the country's foreign currency reserves.[1] [2] The company is a sole operator of oil and gas exploration and production, as well as domestic gas transmission through a 1200miles onshore pipeline grid.

History

MOGE was established in 1963 after nationalisation of the Burmese petroleum industry. The nationalised assets of Burmah Oil Company were amalgamated to MOGE.

MOGE discovered the Mann oil field in 1970. Peak production in 1979 was 23,000 barrels of oil per day, about three-quarters of Myanmar's total production.[3]

2021 coup

Since the 2021 Myanmar coup d'état, MOGE has become the largest foreign currency source for the military regime, the State Administration Council.[4] In February 2022, the European Union imposed sanctions on MOGE.[5] In January 2023, the American government sanctioned MOGE officials.[6], neither the United States nor the United Kingdom have sanctioned MOGE.[7]

In January 2022, TotalEnergies, Chevron, and Woodside Energy announced they would withdraw from the Myanmar market, following pressure from activists who have called for companies to cut financial ties with MOGE.[8] [9] TotalEnergies had operated the Yadana natural gas pipeline project since the 1990s, with a 31.24% stake in the project, while Chevron had a 28.26% stake. TotalEnergies' divestment has increased MOGE's stake in the project, from 15% to 21.8%.[10] Australian-owned Woodside took a loss from its exit.[11]

In February 2022, Japanese-owned Mitsubishi Group announced its exit.[12] In April 2022, Malaysian-owned Petronas followed suit, withdrawing from the Yetagun gas field project.[13]

Offshore gas fields

MOGE operates several offshore gas fields, and has a commercial stake in each active project:

See also

External links

Notes and References

  1. Web site: Yang . Robbie Gramer, Mary . U.S. Eyes New Energy Sanctions on Myanmar After Execution of Activists . 2022-08-27 . Foreign Policy . 2 August 2022 . en-US.
  2. Web site: Myanmar's Sanctions-Hit Junta Still Netting Vast Oil, Gas Profits . 2022-08-27 . VOA . 11 August 2022 . en.
  3. Web site: Yenne . Keith . Hydrocarbon Prospect (Oil, Gas, Coal) for Burma, USGS Open File Report 88-402 . USGS Publications Warehouse . USGS . 11 July 2021 . 1988.
  4. Web site: 2023-02-01 . The international oilfield services companies supporting the Myanmar junta's oil and gas industry . 2023-03-27 . Justice For Myanmar.
  5. Web site: 2022-02-21 . Myanmar/Burma: EU imposes restrictive measures on 22 individuals and 4 entities in fourth round of sanctions . 2023-03-27 . Council of the EU . en.
  6. News: Psaledakis . Daphne . Lewis . Simon . 2023-02-01 . U.S. and allies mark anniversary of Myanmar coup with more sanctions . en . Reuters . 2023-03-27.
  7. News: 2023-02-01 . US, Allies Impose New Sanctions on Myanmar Two Years After Coup . en . Bloomberg.com . 2023-03-27.
  8. News: Ratcliffe . Rebecca . 2022-01-21 . Chevron and Total withdraw from Myanmar gas project . en-GB . The Guardian . 2023-03-27 . 0261-3077.
  9. News: Butler . Ben . Doherty . Ben . 2022-01-27 . Woodside Petroleum to pull out of Myanmar one year on from military coup . en-GB . The Guardian . 2023-03-27 . 0261-3077.
  10. Web site: 2022-07-19 . Myanmar: TotalEnergies Withdraws; Junta Gains . 2023-03-27 . Human Rights Watch . en.
  11. Web site: 2022-01-27 . Woodside to take $295m hit as it exits Myanmar . 2023-03-27 . Australian Financial Review . en.
  12. News: 2022-02-18 . Mitsubishi, Petronas to exit Myanmar Yetagun gas project . en . Reuters . 2023-03-27.
  13. News: 2022-04-29 . Malaysia's Petronas withdraws from Myanmar's Yetagun gas field . en . Reuters . 2023-03-27.
  14. Web site: Myanmar - Woodside Energy . 2021-02-05 . Woodside . en-AU.
  15. Web site: Shwe Gas Project, Bay of Bengal, Offshore Myanmar . 2021-02-05 . en-US.

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