Myanmar / Interra

Myanmar / Interra: Aung San Suu Kyi urged foreign govts not to allow their co’s to do JV with the state-owned oil and gas co until it improved transparency and accountability. Speaking to the International Labour Organization (ILO) in Geneva, noting that "The Myanmar Oil and Gas Enterprise (MOGE) with which all foreign participation in the energy sector takes place through joint venture arrangements, lacks both transparency and accountability at present. Add that the (Myanmar) govt needs to apply internationally recognized standards such as the IMF code of good practices on fiscal transparency. Other countries could help by not allowing their own co’s to partner MOGE unless it was signed up to such codes. We note that Interra operates in the O&G sector of the country, and co. has been banking on further investments by O&G co’s, to tap on their infrastructures. (e.g pipes and drills to transport Gas discovered in Interra’s wells which has since been caped due to a lack of infrastructures.)