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Myanmar Extractive Industries and EITI

Tue, 11/24/2015 - 21:35 -- meiti-admin
Tuesday, November 24, 2015 - 21:30
English

Myanmar Extractive Industries and EITI

Myanmar's natural resources include gems, industrial minerals, proven oil reserves of 50 million barrels and proven gas reserves of 10 trillion cubic feet (US Energy Information Administration). According to the Central Statistical Organisation, gas accounted for 29% of exports and gemstones 10% of exports in FY March 2013 – March 2014 and the extractive sector is the second largest source of foreign direct investment. The Central Statistical Organization reported total sales of gas in an amount of US $3.3 billion in 2013-14, up from US $580 million in 2003-04. Official revenues from gem stones sales in 2014 were estimated at US $3.4 billion (Myanmar Gems Emporium). Despite its mineral wealth, Myanmar is one of the least developed nations in the world, facing considerable challenges with managing its natural resource wealth.

The reform process initiated by President Thein Sein is continuing at a high pace, including in the extractive sector. The recently completed onshore and offshore oil and gas bidding rounds will see several international oil and gas companies entering the scene. Legal reforms are underway in the mining sector with a view to amend the current fiscal framework. EITI is a central part of the government’s reform agenda, in particular on public financial management reforms, and should provide access to reliable data about extractive industry revenues in a country where these figures still remain largely unknown. EITI is also seen as a tool for contributing to building trust between the government and communities and contribute to the peace process.

EITI Reporting

The country has not yet produced an EITI Report.

EITI Implementation

Myanmar was accepted as an EITI Candidate at the International EITI Board meeting on 2 July 2014. For more detailed information about their application process, please see Myanmar's Candidature application with annexes.

Since achieving Candidate status in July 2014, four MSG meetings have been held. Three sub-committees have been established to take forward the work on reporting, outreach and communications, and workplan and governance. Progress is being made on agreeing the scopeand Terms of Reference for the first MEITI EITI Report, which will cover data from financial year March 2013-March 2014. The report will be produced in accordance with the EITI Standard. Thescoping study which is being undertaken to prepare for the report will include an assessment of the feasibility to disclose contractual terms relevant to the EITI, explore mechanisms for disclosure of the beneficial owners of extractive companies operating in Myanmar, an overview of artisanal extractive activities and an overview of CSR programmes.

MEITI is also giving priority to outreach and awareness raising on natural resource governance and the EITI in the states and divisions where extractive activities are taking place. To this end, MEITI is establishing subnational coordination units in four pilot regions - Mandalay, Magway, Rakhine and Shan.

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National Coordinator

Zaw OO

Myanmar

National Coordinator

Myanmar EITI

+951-654770

Contact

International Secretariat

Dyveke Rogan

Myanmar

Policy and Regional Director

EITI International Secretariat

+47 21 68 53 84 / + 47 90 79 79 37

drogan@eiti.org

Sam Bartlett

Myanmar

Technical and Regional Director

EITI International Secretariat

+47 9026 7530

sbartlett@eiti.org