The junta’s new energy minister has asked Russia to provide technology embedded with artificial intelligence to extract oil from wells in Myanmar that do not have much left in them, as he continues scrambling for investment in what was one of Myanmar’s most attractive industries for foreign investment before the coup.
Former major general Ko Ko Lwin was appointed to the position last month. Critics say he does not have enough experience for the job.
On Tuesday, he held talks with senior executives from ROSGEO, the Russian state-owned geoscience exploration and research holding company.
Ko Ko Lwin is in Moscow for the Russia Energy Week International Forum from October 11 to 13.
At the meeting with ROSGEO executives, Ko Ko Lwin discussed the potential for using AI technology to extract oil from low-potential layers and old oil wells. They also discussed technology for collecting and analyzing data on sedimentary basins to identify new oil fields, and for conducting 2D and 3D seismic surveys to identify potential oil and gas reserves.
According to junta media, Ko Ko Lwin is keen to use the latest technology to reduce losses and risks as oil production declines in Myanmar. He expressed a strong desire to deepen cooperation with ROSGEO to acquire technical assistance to accomplish this, according to junta media.
The regime is desperately searching for new investment in the country’s oil and gas industry, which provides it with its single largest source of foreign income. After global giants like Total, Chevron, and Woodside Energy withdrew from the country following the 2021 coup, investment dried up.
Blackouts since late 2021 are disrupting lives and businesses, and wreaking havoc on the national economy.
Before his visit to Russia, Ko Ko Lwin hosted Russia-Myanmar Association for Friendship and Cooperation chief Anatoly Bulochnikov in Naypyitaw on September 26 for talks on potential cooperation in the oil and gas industry.
Ko Ko Lwin also tried to woo investors at the Shanghai Cooperation Organization’s first energy forum in Kazakhstan from October 3 to 6. Myanmar needs investment from partner countries to meet its power needs, he told the forum.
He also sought Kazakhstan’s help to produce electricity from charcoal.
Ko Ko Lwin also met a delegation from Roscongress Investment-RCI—led by an official identified by junta media as Segey Vladimirovish—to discuss the energy sector in Russia last Friday.
They discussed construction of an oil refinery in Myanmar, an oil port that can handle large oil tankers, and accelerating cooperation in the energy sector. The regime, according to Ko Ko Lwin, has assigned focal persons in every energy sub-sector to ensure more effective cooperation.
He also urged Russia to do the same.
