Offshore staff
PERTH, Western Australia – Woodside has decided to withdraw from its interests in Myanmar.
The company has operated in the country since 2013, conducting multiple exploration and drilling campaigns. It holds a 40% participating interest in the A-6 Joint Venture as joint operator and participating interests in exploration permits AD-1 and AD-8.
Woodside had previously announced that it was placing all Myanmar business decisions under review following the State of Emergency declared in February 2021 and the deteriorating human rights situation in the country.
In 2021, the company relinquished exploration permits covering offshore blocks AD-2, AD-5, and A-4 and is in the process of withdrawing from blocks AD-6, AD-7, and A-7.
It will now start arrangements to formally exit blocks AD-1 and AD-8, the A-6 Joint Venture, and the A-6 production sharing contract held with the Myanma Oil and Gas Enterprise.
CEO Meg O’Neill said while the company had hoped to develop the A-6 gas resources with its joint venture participants and deliver much-needed energy to the Myanmar people, there was no longer a viable option for Woodside to continue its activities.
She said: “Woodside has been a responsible foreign investor in Myanmar since 2013 with our conduct guided by the UN Guiding Principles on Business and Human Rights and other relevant international standards. Given the ongoing situation in Myanmar we can no longer contemplate Woodside’s participation in the development of the A-6 gas resources, nor other future activities in-country.”
01/27/2022
