Burma Campaign UK is calling on Kurt Waldeland, Chief Executive of SED Energy Holdings, to end his company’s role in gas extraction in Burma/Myanmar.
Since the latest military coup in 2021, gas revenue is controlled by the Burmese military, helping to fund their weapons and equipment purchases.
SED Energy Holdings decided to go ahead with a new contract on the Zawtika gas field last year despite this, via their Singapore based subsidiary, Energy Drilling.
The company obviously recognised that doing so is morally wrong, because in their media release about the contract they avoid mentioning Burma/Myanmar or Zawtika. You can view the media release on their website here.
Burma’s gas reserves are a major source of revenue for the Burmese military, earning them tens of millions of dollars every month.
People in Burma suffer daily power cuts or have no electricity at all because most of the gas is sold to neighbouring countries instead of providing electricity for people in Burma.
This is because the Burmese military dictatorship which was in control when gas fields began to be developed 30-40 years ago prioritised revenue from gas over electricity for people in the country. The same week they received the first major gas revenue payment in 2001, they purchased ten MIG 29 jets.
Instead of gas revenue paying to build hospitals and schools, it pays for the Burmese military jets which bomb them.
The role of gas revenue in funding the Burmese military and the human rights violations it commits has led to the European Union and USA sanctioning Myanmar Oil and Gas Enterprise (MOGE), the state-owned company managing Burma’s oil and gas reserves.
However, a loophole in the sanctions means European and US companies can still work on gas projects in Burma as long as they don’t directly work with MOGE.
SED Energy Holdings is one of those companies. Its contract is with PTT Exploration and Production Public Company Limited (PTTEP), Thailand’s state-owned energy exploration company. PTTEP has an 80% stake in Zawtika, and MOGE has 20%.
SED Energy Holdings’ head office is in Cyprus, an EU member state, and it is listed on a Norwegian stock exchange.
“Companies operating in Burma’s gas and energy sectors are contributing to the funding of the Burmese military, as gas represents a key source of revenue for the regime,” said Minn Tent Bo, Advocacy Officer at Burma Campaign UK. “SED Energy Holdings is profiting from Burma’s blood-stained oil and gas sector. This must end now.”
Burma Campaign UK has written to SED Energy Holdings about their role in gas projects in Burma but received no response.
Burma Campaign UK will be adding SED Energy Holdings to our ‘Dirty List’ of companies facilitating arms or revenue to the Burmese military, or linked to human rights violations. The dirty list is available here.
Burma Campaign UK is asking supporters and members of the public to email Kurt Waldeland, Chief Executive of SED Energy Holdings, calling on him to stop working on gas projects in Burma. They can do so via the Burma Campaign UK website here.