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Myanma Oil and Gas Enterprise

Myanma Oil and Gas Enterprise (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 1200 mi 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] As of January 2023, 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.[8] TotalEnergies' divestment has increased MOGE's stake in the project, from 15% to 21.8%.[10] Australian-owned Woodside took a US$138 million 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:

  • Shwe gas field (15% MOGE stake) – operated by Korean-owned POSCO International (formerly Australian-owned Woodside Energy)[4][14][15]
  • Yadana gas field (21.8% MOGE stake) – operated by Thai-owned PTTEP (formerly French-owned TotalEnergies)[4]
  • Zawtika gas field (20% MOGE stake) – operated by Thai-owned PTTEP[4]
  • Yetagun gas field (20.5% MOGE stake) – operated by Thai-owned Gas Petroleum Myanmar (formerly Malaysian-owned Petronas)[4]

See also

External links

References

  1. Robbie Gramer, Mary Yang. U.S. Eyes New Energy Sanctions on Myanmar After Execution of Activists Foreign Policy, 2 August 2022, retrieved 2022-08-27^
  2. Myanmar's Sanctions-Hit Junta Still Netting Vast Oil, Gas Profits VOA, 11 August 2022, retrieved 2022-08-27^
  3. Keith Yenne. Hydrocarbon Prospect (Oil, Gas, Coal) for Burma, USGS Open File Report 88-402 USGS Publications Warehouse, USGS, 1988, retrieved 11 July 2021^
  4. The international oilfield services companies supporting the Myanmar junta's oil and gas industry Justice For Myanmar, 2023-02-01, retrieved 2023-03-27^
  5. Myanmar/Burma: EU imposes restrictive measures on 22 individuals and 4 entities in fourth round of sanctions Council of the EU, 2022-02-21, retrieved 2023-03-27^
  6. Daphne Psaledakis, Simon Lewis. U.S. and allies mark anniversary of Myanmar coup with more sanctions Reuters, 2023-02-01, retrieved 2023-03-27^
  7. US, Allies Impose New Sanctions on Myanmar Two Years After Coup Bloomberg.com, 2023-02-01, retrieved 2023-03-27^
  8. Rebecca Ratcliffe. Chevron and Total withdraw from Myanmar gas project The Guardian, 2022-01-21, retrieved 2023-03-27^
  9. Ben Butler, Ben Doherty. Woodside Petroleum to pull out of Myanmar one year on from military coup The Guardian, 2022-01-27, retrieved 2023-03-27^
  10. Myanmar: TotalEnergies Withdraws; Junta Gains Human Rights Watch, 2022-07-19, retrieved 2023-03-27^
  11. Woodside to take $295m hit as it exits Myanmar Australian Financial Review, 2022-01-27, retrieved 2023-03-27^
  12. Mitsubishi, Petronas to exit Myanmar Yetagun gas project Reuters, 2022-02-18, retrieved 2023-03-27^
  13. Malaysia's Petronas withdraws from Myanmar's Yetagun gas field Reuters, 2022-04-29, retrieved 2023-03-27^
  14. Myanmar - Woodside Energy Woodside, retrieved 2021-02-05^
  15. Shwe Gas Project, Bay of Bengal, Offshore Myanmar retrieved 2021-02-05^
  16. Oil and Gas in Myanmar Total S.A., retrieved 20 January 2009^
  17. U Kyaw Nyein. Country Report for Myanmar Ministry of Energy, retrieved 20 January 2009^
  18. Ye Lwin. Oil and gas ranks second largest FDI at $3.24 billion The Myanmar Times, 21 July 2008, retrieved 20 January 2009^
  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, retrieved 18 December 2007^