We strive to build partnerships with people we work with. Our values unites us and guides our development and commitment to fostering innovation and establishing honesty and integrity. Our values shape who we are as a company and influences how we conduct business.

COMPANY VALUES

MPRL E&P promotes the following values to all stakeholders in order to achieve the performance needed to be the leading upstream exploration and production company in Myanmar.

 

Honesty & Integrity

Working with honesty and integrity for the people we work with and in communities we operate in.

Social Responsibility

Endeavoring to promote sustainable development across the company’s activities through dialog and engagement enabling the creation of robust partnerships with our employees, local communities, business partners, and government.

Results Focused

Having a strong sense of focus on results whereby driving tasks and projects through to completion with the flexibility to adapt to changing situations.

Employee Empowerment

Committing to positively encouraging the development of employees through training within an environment that promotes capacity building opportunities and fostering new talent.


Highlights

Promoting a Sense of Company Pride

Employees initiated their first blood drive in September 2015 at the National Blood Center in Yangon. The second and third donations were held in January and May 2016. Encouraging our people to take part in activities and initiatives outside of work promotes a sense of pride and team building.

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Promoting a Sense of Company Pride

Employees initiated their first blood drive in September 2015 at the National Blood Center in Yangon. The second and third donations were held in January and May 2016. Encouraging our people to take part in activities and initiatives outside of work promotes a sense of pride and team building.

Employees from MPRL E&P initiated their first blood drive in September 2015 at the National Blood Centre in Yangon. The second and third donations were held in January and May 2016 respectively. It is usually organized by the Admin Department on a quarterly basis as part of many other voluntary social welfare initiatives initiated by our staff.

During these blood drives, around 50 to 60 employees participate regularly. There is no registration needed and anyone can join through simply contacting the Admin Department.

In order to donate healthy blood, one has to have plenty of sleep the day before the donation and also need to avoid taking antibiotics, alcoholic beverages and narcotic substances.

As a regular blood donor, one has to keep their blood pure and have a relatively healthy lifestyle.

Myanmar Businesses Adapt to the Country’s New Era of Transparency

The power of transparency – MPRL E&P ranks top 10 three years in a row.

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Myanmar Businesses Adapt to the Country’s New Era of Transparency The power of transparency – MPRL E&P ranks top 10 three years in a row.

Businesses operating in Myanmar should be able to explain how they conduct their business in a socially responsible and environmentally sustainable manner.

The Pwint Thit Sa Report is the first tailor-made business transparency project for Myanmar, conducted yearly since 2014 by a Yangon-based donor-funded initiative known as Myanmar Centre for Responsible Business (MCRB), which aims to serve as a platform between government, businesses and civil society, for the establishment of knowledge, competence and dialog regarding promotion of responsible business in the country based on national context and international standards. As a result, the Pwint Thit Sa Report basically identifies 100 of the largest Myanmar companies and assesses them using 35 questions based on the information they disclose on their websites. The assessment criteria mainly consists of anti-corruption, organizational transparency, human rights and HSE, drawing on the methodology adopted by Transparency International.

The Report, released for the first time in July 2014, confirmed that only 35 Myanmar companies out of 100 surveyed had a website while only 11 out of those websites disclosed information about anti-corruption policies and 32 released information on organizational transparency. All the companies did least well in the area of reporting on human rights and HSE, which is a critical area for the country. Although the report had publicly acknowledged the level of transparency Myanmar businesses were having at the start, it also highlighted the challenges and issues in terms of policy, legal and social, to be addressed by Myanmar businesses in order to be more responsible in the coming years.

There is a clear business case for transparency that Myanmar businesses should recognize: brand reputation and competitive advantage, employee engagement, staff recruitment and retention as well as accurate media coverage through easily available information about the company activities. For example, a Myanmar company which is well-operated and regularly have its financial statements audited, is very likely to tap foreign investment in terms of capital and technology to grow and expand its business activities. On the other hand, lack of transparency implicates weak rule of law and lack of good governance, which is a major threat to social and economic development. As a result, what companies communicate and how they communicate will certainly dictate where Myanmar businesses stand in the indices and the role they play in driving national development as well as private sector led.

Myanmar businesses play a key role towards modernizing every facet of the economy and forcing its industries to rethink their fundamental values they bring to society as a whole. They have to convince themselves or be convinced that their focus should be optimizing the benefits for all stakeholders and sustainability.

Sithu Moe Myint, MPRL E&P’s Country Manager, Shares his Opinions on the Resilience of the Company

The low oil price environment is an opportunity for MPRL E&P, says MPRL E&P Country Manager.

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Sithu Moe Myint, MPRL E&P’s Country Manager, Shares his Opinions on the Resilience of the Company

The low oil price environment is an opportunity for MPRL E&P, says MPRL E&P Country Manager.

When was the company’s performance review complete and what were the significant results you would like to share?

The 2015-2016 fiscal year was the first year in our history that MPRL E&P realized a net loss which amounted to over US$6 million. This was mainly on account of the oil price dropping from over US$100 per barrel down to less than US$30 per barrel by January 2016.

Thus our financial performance was very much below our expectations and targets which is why a significant organizational change was planned for and executed immediately prior to the start of the 2016-2017 fiscal year. However, in terms of operational performance, there were no lost time accidents (LTAs) in all our assets during the 2015-2016 fiscal year and our social performance was and continues to be at the forefront of the industry. In fact, last year, we received further local and international recognition of our Operational Grievance Mechanism process implemented in Mann field.

What are the company’s expectations and hopes for the new fiscal year?

I maintain a conviction that the low oil price environment is actually an opportunity for MPRL E&P to tests its ability to be resilient and to adapt. There are going to be many upstream companies, small and large independents alike, that will not survive the current downturn in the industry and the ‘rebalancing’ of supply and demand. I know that MPRL E&P will not be one of these companies.

I believe that we are now in a position where we must have clear focus on what is important and what may not be as important whereby decision quality becomes more critical than ever. Thus, improved and more effective internal engagement within our functional and business support teams is essential towards the organization being able to deliver on our objectives for the current fiscal year.

What are the company’s long-term visions?

I intend for MPRL E&P to continue to play a key role in the energy sector in Myanmar. Energy is one of the key facets necessary for our nation to grow and develop and nothing gives me more satisfaction than being at the fore-front of unlocking this resource through the work that we do as an organization. We will continue to realize value in our legacy asset, Mann field, up until the contract expires in 2024.

Furthermore, going forward, I am convince that gas is going to continue to be a key part of our nation’s energy mix and will continue to be heavily relied upon for electrical generation as well as to build up foreign exchange reserves through gas exports to our neighboring countries.

Block A-6 is soon going to undergo a very aggressive appraisal program during which we will continue to maintain our role as Operator of the PSC as well as Joint Operator responsible for government engagement. During this process, we will leverage the Joint Venture to build our internal capabilities with regard to offshore appraisal, development, and production of gas assets.

Volunteering in the community

At MPRL E&P, we encourage all employees to actively participate in the community and contribute their time and efforts to initiatives and programs that they care about. During Cyclone Komen, MPRL E&P’s employees contributed over US$9,000 and 2051 man-hours of volunteer time.