Energy giant Woodside pulls out of junta-led Myanmar
27 January 2022
Woodside is withdrawing from strife-torn Myanmar a year after then chief executive Peter Coleman drew flak for sympathising with the generals who staged a coup in February 2021.
Chief executive Meg O’Neill said there was no longer a viable option to develop gas from its 40 per cent owned joint venture in the country, known as the A-6 block.
“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,” she said.
Woodside’s moves follow the withdrawal last week by Chevron and France’s TotalEnergies and calls by New York-based Human Rights Watch [...] for sanctions on foreign currency payments to deprive the junta of natural gas revenues if other companies take over the developments abandoned by the western companies.
Woodside will now start the processes to exit exploration blocks, its A-6 gas joint venture and a production sharing contract with state-owned Myanma Oil and Gas Enterprise.