Michael Moe Myint
Birth: 11 September, 1952
Source of wealth: Myint & Associates, MPRL E&P Group
Address: No.623, Pyay Rd, Near University Post Office, Kamayut Tsp, YANGON
Business: Exploration of Oil & Gas, Engineering, Construction, Logistics, Consultation Service, Storage & Warehousing
Entrepreneur Michael Moe Myint founded one of the Myanmar’s largest oil businesses, Myanmar Petroleum Resources Limited (MPRL) and subsequently became one of the richest men in Myanmar. He has earned a reputation as one of the country’s “cleaner tycoons”.
“I am proud to be a part of Myanmar’s energy sector, because it will play a major role in the sustained development of our country.”
Michael Moe Myint is the founder and Chief Executive Officer of Myint & Associates and of MPRL E&P Group. From 1974 to 1987, he served as a pilot for the state-owned Myanmar Airways. He was also the personal pilot of General Ne Win, who staged a coup and ruled Myanmar between 1962 and 1988. He graduated from the University of Yangon and Marshall University (West Virginia, US). In 1989, he started offering consultancy services for Shell International Petroleum. In this capacity, he oversaw the company’s negotiations and start-up processes in Myanmar.
In 1989, Michael Moe Myint founded Myint & Associates, the first private company in Myanmar to operate in oil and gas. His company provides supply and logistical services and its main clients include Total, Unocal, Halliburton and Petronas.
Michael Moe Myint has a reputation as one of the country’s ‘cleaner tycoons’ by avoiding the gray areas and refusing to offer gifts to former ruling generals. He has always operated openly and honestly, solemnly practices “Zero Tolerance” to corruption and pays taxes regularly.
Michael Moe Myint has a deep understanding of the country’s energy industry. In 1996, he established Myanmar Petroleum Resources Limited (MPRL) which has more than 3,000 employees. He is the founder of Asia Drilling Pte and current chairman and chief executive officer at MPRL E&P Pte.
MPRL E&P is registered in the British Virgin Islands and is his main oil exploration and production company. It is managed by Myanmar nationals and owns some of the largest known reserves in Southeast Asia. Myanmar was opened up for oil and gas exploration following the political reforms and is estimated to contain 3.2 billion barrel (bbl) of oil and 18 trillion cubic feet (tcf) of gas.
MPRL E&P has also pioneered enhanced oil recovery (EOI) techniques in Myanmar, such as the use of paraffin scavenger enzymes (“green-zyme”) and stimulation. Michael Moe Myint claims to have invested US$40 million into offshore EOI. Commenting on Myanmar’s energy industry in a 2016 interview, he said that the real question is how to address the problem of energy supply before production begins.
In October 2012, MPRL E&P announced acceptance by Daewoo International Corporation of its offer to farm-in to a Production Sharing Contract for Block AD-7 in the Rakhine Basin.
In January 2013, Michael Moe Myint sold half the rights to attract in the Bay of Bengal to Australian-based Woodside Petroleum, for an undisclosed amount. In October 2015, French oil giant Total bought a 40% stake in offshore block A-6, which was formerly 50-50 owned by MPRL E&P and Woodside Petroleum.
MPRL E&P also operates Mann Field, an onshore oil and gas field in the Magway Region pumping a modest 1,500 barrels of oil per day and up to 4 million cubic meters of gas. Michael Moe Myint has held several board positions including in the education and banking sectors. He also served as the vice president of Interaero. He is a member of the Board of Myanmar Industrial Development Bank and the Myanmar National Olympic Committee. He founded Myanmar Optimist Dinghy Association and became its patron. He sponsors sailing events in Myanmar and is the current Myanmar Yachting Federation’s president, Yangon Sailing Club’s Honorary Life Member and its past Commodore.
His son, Si Thu Moe Myint, is the director of Myint & Associates Construction Company, a sister company to the MPRL E&P Group. Currently, it is a leading property developer in Myanmar’s real estate sector. Its prominent projects include Ngwe Saung Yacht and Marina, a hotel and resort located in Ngwe Saung Beach. This construction was the venue for the 2013 Southeast Asian Games sailing event. Its Vantage Tower intends to set a new benchmark for premium office space in Yangon and is the first international grade a office development in Myanmar.