Native name | မြန်မာ့ရေနံနှင့် သဘာဝဓါတ်ငွေ့လုပ်ငန်း |
---|---|
Company type | Public |
Industry | Oil and gas industry |
Founded | 1963 |
Headquarters | , Myanmar |
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 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]
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]
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 [update], 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]
MOGE operates several offshore gas fields, and has a commercial stake in each active project:
{{
cite web}}
: CS1 maint: multiple names: authors list (
link)
Native name | မြန်မာ့ရေနံနှင့် သဘာဝဓါတ်ငွေ့လုပ်ငန်း |
---|---|
Company type | Public |
Industry | Oil and gas industry |
Founded | 1963 |
Headquarters | , Myanmar |
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 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]
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]
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 [update], 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]
MOGE operates several offshore gas fields, and has a commercial stake in each active project:
{{
cite web}}
: CS1 maint: multiple names: authors list (
link)