"Singapore firm rejects claims of 'favouring' Myanmar junta", 7 February 2025

Mainboard-listed oil firm Interra Resources said ... that the extension of a production-sharing contract between its subsidiary and an entity controlled by Myanmar's government was done years before the current ruling military seized power in the country in 2021.

The statement ... came in response to queries by the Singapore Exchange (SGX) after activist group Justice for Myanmar alleged in a Jan 29 report that Interra had "helped supply the junta" with more than two million barrels of oil worth over US$150 million and "fuelled its ongoing war crimes".

"The current IPRCs (improved petroleum recovery contracts) were obtained and extended under the civilian government and prior to the military coup in 2021," Interra said, appearing to respond to an allegation that was not made in the Justice for Myanmar report.

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Interra holds a participating interest of about 60 per cent in Goldpetrol Joint Operating Company (GJOC), according to its website.

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GJOC secured the production-sharing contract for oil exploration and production with Myanma Oil and Gas Enterprise (MOGE), Myanmar's state oil and gas enterprise, in 1996. ...

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"The company has no control over or power to dictate how the MOGE distributes or uses the oil that is produced by GJOC," the company said, calling the activist group's claims "sensationalisation".

"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'," it said.

MOGE was sanctioned by the United States and the European Union after the coup.

Interra also rejected what it called allegations in the Justice for Myanmar report that GJOC had ramped up its output after the coup attempt.

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The Justice for Myanmar report stated that "production was suspended for two months in early 2021 after the coup attempt, but the company has since ramped up output". 

On allegations that the group's revenue comes from the provision of oil by GJOC, Interra said that it was "erroneous" to suggest that any such increase is linked to the junta's activities.

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