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Myanma Oil and Gas Enterprise

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Myanma Oil and Gas Enterprise
Native name
မြန်မာ့ရေနံနှင့် သဘာဝဓါတ်ငွေ့လုပ်ငန်း
Company typePublic
IndustryOil and gas industry
Founded1963; 61 years ago (1963)
Headquarters
Naypyidaw
,
Myanmar
ProductsPetroleum
Natural gas
Petroleum products
OwnerMyanmar 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 US$1.5 billion 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 1,200 miles (1,900 km) onshore pipeline grid.[3][4]

History

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MOGE was established in 1963 after nationalisation of the Burmese petroleum industry. The nationalised assets of Burmah Oil Company were amalgamated to MOGE.[3][5]

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.[6]

2021 coup

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Since the 2021 Myanmar coup d'état, MOGE has become the largest foreign currency source for the military regime, the State Administration Council.[7] In February 2022, the European Union imposed sanctions on MOGE.[8] In January 2023, the American government sanctioned MOGE officials.[9] As of January 2023, neither the United States nor the United Kingdom have sanctioned MOGE.[10]

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.[11][12] 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.[11] TotalEnergies' divestment has increased MOGE's stake in the project, from 15% to 21.8%.[13] Australian-owned Woodside took a US$138 million loss from its exit.[14]

In February 2022, Japanese-owned Mitsubishi Group announced its exit.[15] In April 2022, Malaysian-owned Petronas followed suit, withdrawing from the Yetagun gas field project.[16]

Offshore gas fields

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

See also

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References

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  1. ^ Yang, Robbie Gramer, Mary (2 August 2022). "U.S. Eyes New Energy Sanctions on Myanmar After Execution of Activists". Foreign Policy. Retrieved 27 August 2022.{{cite web}}: CS1 maint: multiple names: authors list (link)
  2. ^ "Myanmar's Sanctions-Hit Junta Still Netting Vast Oil, Gas Profits". VOA. 11 August 2022. Retrieved 27 August 2022.
  3. ^ a b "Oil and Gas in Myanmar". Total S.A. Archived from the original on 12 December 2003. Retrieved 20 January 2009.
  4. ^ Ye Lwin (21 July 2008). "Oil and gas ranks second largest FDI at $3.24 billion". The Myanmar Times. Archived from the original on 4 January 2010. Retrieved 20 January 2009.
  5. ^ U Kyaw Nyein. "Country Report for Myanmar" (PDF). Ministry of Energy. Archived from the original (PDF) on 1 May 2011. Retrieved 20 January 2009.
  6. ^ Yenne, Keith (1988). "Hydrocarbon Prospect (Oil, Gas, Coal) for Burma, USGS Open File Report 88-402" (PDF). USGS Publications Warehouse. USGS. Retrieved 11 July 2021.
  7. ^ a b c d e "The international oilfield services companies supporting the Myanmar junta's oil and gas industry". Justice For Myanmar. 1 February 2023. Retrieved 27 March 2023.
  8. ^ "Myanmar/Burma: EU imposes restrictive measures on 22 individuals and 4 entities in fourth round of sanctions". Council of the EU. 21 February 2022. Retrieved 27 March 2023.
  9. ^ Psaledakis, Daphne; Lewis, Simon (1 February 2023). "U.S. and allies mark anniversary of Myanmar coup with more sanctions". Reuters. Retrieved 27 March 2023.
  10. ^ "US, Allies Impose New Sanctions on Myanmar Two Years After Coup". Bloomberg.com. 1 February 2023. Retrieved 27 March 2023.
  11. ^ a b Ratcliffe, Rebecca (21 January 2022). "Chevron and Total withdraw from Myanmar gas project". The Guardian. ISSN 0261-3077. Retrieved 27 March 2023.
  12. ^ Butler, Ben; Doherty, Ben (27 January 2022). "Woodside Petroleum to pull out of Myanmar one year on from military coup". The Guardian. ISSN 0261-3077. Retrieved 27 March 2023.
  13. ^ "Myanmar: TotalEnergies Withdraws; Junta Gains". Human Rights Watch. 19 July 2022. Retrieved 27 March 2023.
  14. ^ "Woodside to take $295m hit as it exits Myanmar". Australian Financial Review. 27 January 2022. Retrieved 27 March 2023.
  15. ^ "Mitsubishi, Petronas to exit Myanmar Yetagun gas project". Reuters. 18 February 2022. Retrieved 27 March 2023.
  16. ^ "Malaysia's Petronas withdraws from Myanmar's Yetagun gas field". Reuters. 29 April 2022. Retrieved 27 March 2023.
  17. ^ "Myanmar - Woodside Energy". Woodside. Retrieved 5 February 2021.
  18. ^ "Shwe Gas Project, Bay of Bengal, Offshore Myanmar". Retrieved 5 February 2021.
  19. ^ Environment News Service. "Unocal Settles Out of Court With Myanmar Villagers". Retrieved 18 December 2007.
  20. ^ "Total says Myanmar operation unaffected by cyclone". Reuters. 6 May 2008. Archived from the original on 1 February 2013. Retrieved 18 December 2007.
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Licensed under CC BY-SA 3.0 | Source: https://en.wikipedia.org/wiki/Myanma_Oil_and_Gas_Enterprise
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