Interra says oil contract with Myanmar was signed prior to junta seizing power (updated)

Interra Resources

06/02/2025 17:43

(Adds details of Interrra's statement, company background,
throughout)
       Feb 6 (Reuters) - Singapore-listed petroleum explorer
Interra Resources  INTR.SI  said late on Thursday that a
production-sharing contract between its subsidiary and an entity
controlled by the Myanmar government was extended years before
the current ruling military seized power in the country in 2021.
    The statement was a response to allegations made a week
earlier by the activist group Justice for Myanmar, which said
that Interra had helped supply the junta with oil.
    Interra holds a participating interest of about 60% in
Goldpetrol Joint Operating Company, according to its website.
GJOC operates two of the onshore producing oil fields in Chauk
and Yenangyaung in central Myanmar. 
    Referring to the Justice for Myanmar report, Interra said,
"The Report therefore contains untrue allegations that GJOC is
'favouring the junta,' 'has long enjoyed a close relationship
with the Myanmar military' or that GJOC signed the contracts
with the 'previous military junta.'"
     After the military launched a coup in 2021, Myanma Oil and
Gas Enterprise, Myanmar's state oil and gas enterprise, was
sanctioned by the United States.
    Myanma Oil and Gas Enterprise and Interra Resources Limited
are connected through production sharing contracts for oil
exploration and production in Myanmar, according to Interra's
website.

 (Reporting by Shivangi Lahiri in Bengaluru; Editing by Philippa
Fletcher and Matthew Lewis)
 ((Shivangi.Lahiri@thomsonreuters.com;))