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Home > Main Library > Economy > Investment in Burma/Myanmar > Foreign investment in oil and gas > Yetagun Field (Petronas, JX Holdings, Inc. -- formerly Nippon Oil Corp., PTTEP, MOGE )

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Yetagun Field (Petronas, JX Holdings, Inc. -- formerly Nippon Oil Corp., PTTEP, MOGE )
Petronas (Malaysia; 40.91%), JX Nippon Oil & Gas Exploration (Japan; 19.31%),78 PTTEP (Thailand; 19.31%), and MOGE (Burma; 20.45%).79.....Premier Oil's Burma investment was taken over by Petronas.

Websites/Multiple Documents

Title: Premier Oil (MYANMAR)
Description/subject: Archival material
Language: English
Format/size: html
Alternate URLs: http://www.corporatewatch.org.uk/?lid=300
Date of entry/update: 20 August 2010

Individual Documents

Title: Broken Ethics:The Norwegian Government’s Investments in Oil and Gas Companies Operating in Burma (Myanmar)
Date of publication: 15 December 2010
Description/subject: "The Norwegian government has been accused of complicity in illegal land seizures, forced labour and killings, by investing national funds in international companies that operate inside Burma on projects where widespread abuses are alleged to have taken place. A state-controlled pension fund that is a repository for some of Norway's own oil wealth has invested up to $4.7bn in 15 oil and gas companies operating inside the South-east Asian country. The companies are accused of participating in projects where various human rights violations have taken place. Activists claim the pension fund is in breach of its own guidelines for responsible investment. The allegations come just days after Norway hosted the Nobel Peace Prize ceremony. Land confiscation, forced labour and other abuses are happening in connection with several gas and oil pipeline projects in Burma, according to Naing Htoo of EarthRights International, which is today publishing a report detailing the alleged abuses being committed by the Burmese government. "There's every indication abuses connected to these projects will continue, and, in some cases, worsen," he said. A number of those companies in which the Norwegian fund has investments have previously been accused in relation to controversial projects in Burma which has been controlled by a military junta since 1962. Among them are Total Oil of France, in which the Norwegian fund has an investment of $2.6bn, and the US-based Chevron Corp, in which the fund has $900m invested. EarthRights International insists that widespread violations continue to be committed by the Burmese army in support of many oil and gas projects that earn the regime millions of dollars. The group says that troops providing security for the Yadana and Yetagun pipelines have carried out extra-judicial killings..." ["The Independent"]
Author/creator: Matthew Smith, Naing Htoo, Zaw Zaw, Shauna Curphey, Paul Donowitz, Brad Weikel, Ross Dana Flynn, and Anonymous Field Teams
Language: English
Source/publisher: EarthRights International
Format/size: pdf (1.2MB)
Date of entry/update: 15 December 2010

Title: Mitsubishi to Invest $70 Million in Yetagun
Date of publication: July 2000
Description/subject: Japanese trading company Mitsubishi Corporation has announced that it will provide US $70 million to build a floating storage offloading FSO facility for the Yetagun offshore oil and natural gas project in Burma by the end of July. [Nippon Oil, holder of 20% in Yetagun, merged with Mitsubishi Oil in April 1999 to form Japan's biggest oil company, the Nippon-Mitsubishi Oil Corporation(NMOC) known also as Nisseki Mitsubishi Oil Corp.]
Language: English
Source/publisher: "The Irrawaddy", Vol. 8. No. 7
Format/size: html
Date of entry/update: 03 June 2003

Title: Premier Oil Admits Abuses in Burma
Date of publication: 16 May 2000
Description/subject: Executive denials crumble under pressure from rights groups and UK government.
Author/creator: Terry Macalister
Source/publisher: Guardian
Date of entry/update: 03 June 2003

Title: Myanmar: Myanmar and Premier Oil public statement
Date of publication: 12 April 2000
Description/subject: Public statement by Amnesty International. "Amnesty International is astonished that Premier Oil, in response to a call by the UK Government that it withdraw from Myanmar, has said in a news wire report that the company's ongoing dialogue with Amnesty International 'had made a significant difference in Myanmar.' The organization does not believe that this is the case. In fact, the human rights situation there continues to be extremely grave ..."
Language: English, Spanish
Source/publisher: Amnesty International
Format/size: html, pdf
Alternate URLs: http://business-humanrights.org/en/public-statement-myanmar-and-premier-oil-burma
Date of entry/update: 21 November 2010

Title: Premier Stays in, Baker Hughes Pulls Out
Date of publication: April 2000
Description/subject: Premier Oil has said that it will not leave Burma as it was requested to do by the British government. "It is our intention to stay," said CEO Charles Jamieson, citing Premier's obligations to its partners in the controversial Yetagun gas project and his belief that "dialogue engagement" will work best to bring about political change in Burma.
Language: English
Source/publisher: "The Irrawaddy", Vol. 8. No. 4-5
Format/size: html
Date of entry/update: 03 June 2003

Title: Nippon, Mitsubishi Oil to Merge into Japan;
Date of publication: February 1999
Language: English
Source/publisher: Kyodo
Date of entry/update: 03 June 2003

Title: Pipe-Dreams?
Date of publication: June 1997
Description/subject: The largest shareholder and operator of Burma's Yetagun gas field, Texaco, has appointed an investment banker to seek buyers of Texaco's 42.9% stake in Burma's Yetagun gas field. Hassan Marican, president of Malaysia's Petronas, is considering purchasing Texaco's shares. During Texaco's annual shareholder meeting in May the company cited financial rather than human rights concerns as grounds for the sale.
Language: English
Source/publisher: "The Irrawaddy", Vol. 5. No. 3
Format/size: html
Date of entry/update: 03 June 2003

Title: Petronas Home Page
Description/subject: Malaysian Government-owned company Petronas has the biggest block of shares in the Yetagun project, and also owns 25% of Premier Oil
Date of entry/update: 03 June 2003