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Article

7 Jul 2006

Author:
Norwatch

Drilling for the Burmese Junta

The rig “Frontier Duchess” is believed to have carried out the work in the Shwe field in block 1-A and Shwe-3. But Frontier Drilling’s management will not supply details about either the Daewoo assignment or the exact time the operations took place. “The only thing I can say about the case is that the assignment is completed,” Roar Bye, Finance Director in Frontier Drilling, told Norwatch...“We had a drilling assignment for the Korean company Daewoo and have not entered into an agreement with the military regime in Burma..."...Frontier Drilling...is today a wholly owned subsidiary of FDR-Holdings...FDR-Holdings is consequently controlled by private American funds. These funds include Carlyle/Riverstone – that is, The Carlyle Group of Washington, D.C. (Carlyle), and Riverstone Holdings LLC of New York, N.Y. – and the New York-based finance and investment bank Credit Suisse First Boston (CSFB)...It was in August 2000 that Daewoo signed a contract with the Burmese Myanmar Oil and Gas Enterprise (MOGE), which is a subsidiary wholly owned by the Burmese military junta. Daewoo is the chief operator, but also included are Korean Gas Corporation (KOGAS) and two Indian companies: Gas Authority of India (GAIL) and ONGC Videsh...The gas project has given rise to protests from Burmese in exile, human rights organisations, and environmental activists.