LogIn LogOut

Myanmar Coup Won't Affect Offshore Exploration Plans, Woodside CEO Says

February 19, 2021

Peter Coleman has been CEO of Woodside since May 2011 (Credit: Woodside)
Peter Coleman has been CEO of Woodside since May 2011 (Credit: Woodside)

Australia's Woodside Petroleum sees the military coup in Myanmar as "a transitionary issue" that would not affect its drilling in waters off the Southeast Asian nation, its chief executive said.

His comments came as Australia, India, Japan, and the United States called for democracy to be restored quickly in Myanmar two weeks after the military overthrew the elected government of Aung San Suu Kyi.

Woodside Chief Executive Peter Coleman said the company does not see the coup holding back gas exploration work this year, including pre-engineering work for the A-6 gas field, which Woodside plans to develop with France's Total SA.

"At the moment we see this as being a transitionary issue. You've got an emerging democracy working through their processes," Coleman told Reuters.

"I look at it and say in the fullness of time the Myanmar people will work this out. At the moment the military's committed to having free elections within 12 months....We hope that that's in fact what will occur, and we'll watch this very closely."



Woodside is not facing any diplomatic pressure to pull back, Coleman said, adding it was very unlikely U.S. sanctions would get in the way of Woodside's work.

"The U.S. sanctions at the moment have been on individuals, and that's typically where the U.S. has been," he said in an interview on Thursday.

"I think Western governments are very cautious about their approach to Myanmar at the moment, understanding the more sanctions they put on the more they could drive the military government towards the Chinese and others to look for support."

Hundreds of thousands of people have been taking to the streets almost daily across Myanmar demanding a reversal of the Feb. 1 coup. Police have broken up the demonstrations and one protester shot in the head last week died on Friday.

Many protesters are calling for a boycott on companies that do business with the military. Coleman said Woodside has not been a target of any protests.

(Reporting by Sonali Paul; Editing by Kim Coghill)


Credit: Woodside



Current News

Jindal Bags 3-Year Jack-Up Rig Charter with ONGC

Jindal Bags 3-Year Jack-Up Rig Charter with ONGC

Malaysia Offshore Rig Sinking: All 101 Crewmembers Brought to Shore Safely

Malaysia Offshore Rig Sinking: All 101 Crewmembers Brought to Shore Safely

Northern Offshore Services Takes NYK's CTV on Ten-year Charter

Northern Offshore Services Takes NYK's CTV on Ten-year Charter

Renewables to Grow Much Faster Than Oil Industry Expects, Rystad Says

Renewables to Grow Much Faster Than Oil Industry Expects, Rystad Says

Fred. Olsen Windcarrier Sends Another Jack-Up to APAC, as Siemens Gamesa Extends Brave Tern Charter

Fred. Olsen Windcarrier Sends Another Jack-Up to APAC, as Siemens Gamesa Extends Brave Tern Charter

Exxon Expects $200M in Job Cuts Charges

Exxon Expects $200M in Job Cuts Charges

Saudi Aramco Awards Ten-Year Deal for Shelf Drilling's Jack-Up Rig

Saudi Aramco Awards Ten-Year Deal for Shelf Drilling's Jack-Up Rig

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com