Norway and Myanmar signing MoU for Oil for Development

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Permanent Secretary of Ministry of Planning and Finance, U Tun Tun Naing, together with Ambassador Tone Tinnes

Friday May 12th, the Norwegian Ministry of Foreign Affairs and the Ministry of Planning and Finance signed a Memorandum of Understanding for a 5-year Oil for Development program.

This is a milestone in the cooperation between Norway and Myanmar.

The aim of the program is to manage the petroleum sector in an economically, socially and environmentally responsible way, drawing on Norwegian and global experiences. 

Norway brings the best in technology and industry practices for offshore oil and gas, but also something that is even more important – we emphasize and practice the principles of good governance based on transparency and accountability, as well as balancing the considerations of petroleum exploitation and the environment.

We are confident that Myanmar has chosen the best partner as it seek to build a competitive, nationally based petroleum industry that will generate value that benefits the current as well as the future population.