Our Values

Employee Recognition Efforts: Valuing Dedication and Expertise MPRL E&P believes its employees are its greatest asset and rewarding long service personnel is one of the strategies it has adopted for employee recognition. Appreciation is a fundamental human need. At workplace, when employees are appreciated and recognized for their good work, their productivity and satisfaction level rises as they feel their work is valued and motivated to maintain or improve their good work.

Employee recognition is all about acknowledging the hard work and accomplishments of the individuals and teams within the organization. It is simply about creating an emotional connection between employees and the company, bringing about the best in them and supporting the work they do and staying authentic to the company’s values at heart.

MPRL E&P implements the following employee recognition awards programs:

Service Years Awards - which are provided to all permanent staff who have had certain years of service in the company and are rewarded with plaques and cash awards by Chief Executive Officer on the occasion of company-wide town hall meetings or Monthly Management Meetings.

Exceptional Performance Awards - which are provided to outstanding employees who get grade A and B in their performance evaluation process at the end of a fiscal year with a written recognition certificate.

Outstanding Performers Awards - which are presented to those employees who are dedicatedly contributing their endless efforts to achieve not only their respective departmental goals but also corporate goals as well as those who possess strong technical skills or ability to execute beyond the scope of current job roles, or demonstrate robust leadership skills and team working skills. Upon nominations by the Heads of Departments, in connection with the company’s Performance Management Process and Formal Mentorship Program, the following performance awards are offered

1. Outstanding Performer of the Mid-year
2. Outstanding Performer of the Year-end

The goals of the present employee recognition programs are to better motivate employees, to increase employee engagement and productivity, to lower turnover, to create a better work environment, to retain top performers and recognize accomplishments of the employees.

Since August 2015, a total of 32 employees have been rewarded with service year awards in order for the company to take an opportunity to recognize and congratulate them for their longevity or tenure with the company, to appreciate their loyalty, commitment and dedication, to honour experienced employees for their expertise and continuing contributions.

On the most practical level, it is suggested nurturing appreciation and recognition practices among team members on a daily basis. Simply saying “Well done”, “Thank you for your help” or “Congratulations” in a face to face conversation or written messages or a pat on the back are non-financial rewards everyone can give to everyone else. Or be creative as much as you can in applauding your team and constructing the bond!

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.

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.

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.