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The junta’s new power minister has requested Russia to offer know-how embedded with synthetic intelligence to extract oil from wells in Myanmar that would not have a lot left in them, as he continues scrambling for funding in what was one in every of Myanmar’s most engaging industries for overseas funding earlier than the coup.
Former main normal Ko Ko Lwin was appointed to the place final month. Critics say he doesn’t have sufficient expertise for the job.
On Tuesday, he held talks with senior executives from ROSGEO, the Russian state-owned geoscience exploration and analysis holding firm.
Ko Ko Lwin is in Moscow for the Russia Power Week Worldwide Discussion board from October 11 to 13.
On the assembly with ROSGEO executives, Ko Ko Lwin mentioned the potential for utilizing AI know-how to extract oil from low-potential layers and outdated oil wells. In addition they mentioned know-how for gathering and analyzing knowledge on sedimentary basins to establish new oil fields, and for conducting 2D and 3D seismic surveys to establish potential oil and gasoline reserves.
In line with junta media, Ko Ko Lwin is eager to make use of the most recent know-how to scale back losses and dangers as oil manufacturing declines in Myanmar. He expressed a powerful want to deepen cooperation with ROSGEO to accumulate technical help to perform this, in response to junta media.
The regime is desperately trying to find new funding within the nation’s oil and gasoline trade, which offers it with its single largest supply of overseas revenue. After world giants like Complete, Chevron, and Woodside Power withdrew from the nation following the 2021 coup, funding dried up.
Blackouts since late 2021 are disrupting lives and companies, and wreaking havoc on the nationwide economic system.
Earlier than his go to to Russia, Ko Ko Lwin hosted Russia-Myanmar Affiliation for Friendship and Cooperation chief Anatoly Bulochnikov in Naypyitaw on September 26 for talks on potential cooperation within the oil and gasoline trade.
Ko Ko Lwin additionally tried to woo traders on the Shanghai Cooperation Group’s first power discussion board in Kazakhstan from October 3 to six. Myanmar wants funding from accomplice international locations to fulfill its energy wants, he instructed the discussion board.
He additionally sought Kazakhstan’s assist to provide electrical energy from charcoal.
Ko Ko Lwin additionally met a delegation from Roscongress Funding-RCI—led by an official recognized by junta media as Segey Vladimirovish—to debate the power sector in Russia final Friday.
They mentioned development of an oil refinery in Myanmar, an oil port that may deal with giant oil tankers, and accelerating cooperation within the power sector. The regime, in response to Ko Ko Lwin, has assigned focal individuals in each power sub-sector to make sure simpler cooperation.
He additionally urged Russia to do the identical.
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