Myanma Oil and Gas Enterprise

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Myanma Oil and Gas Enterprise (Template:Langx; abbreviated MOGE) is a national oil and gas company of Myanmar. It was established in 1963. MOGE royalties and fees are estimated to generate Template:US$ 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 Script error: No such module "convert". onshore pipeline grid.[3][4]

History

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

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 2023Script error: No such module "Check for unknown parameters"., 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 Template:US$ 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

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

See also

References

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  6. ↑ Script error: No such module "citation/CS1".
  7. ↑ a b c d e Script error: No such module "citation/CS1".
  8. ↑ Script error: No such module "citation/CS1".
  9. ↑ Script error: No such module "citation/CS1".
  10. ↑ Script error: No such module "citation/CS1".
  11. ↑ a b Script error: No such module "citation/CS1".
  12. ↑ Script error: No such module "citation/CS1".
  13. ↑ Script error: No such module "citation/CS1".
  14. ↑ Script error: No such module "citation/CS1".
  15. ↑ Script error: No such module "citation/CS1".
  16. ↑ Script error: No such module "citation/CS1".
  17. ↑ Script error: No such module "citation/CS1".
  18. ↑ Script error: No such module "citation/CS1".
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  20. ↑ Script error: No such module "citation/CS1".

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External links

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