A Canadian company is preparing to begin offshore gas drilling in Myanmar, partnering with the military regime’s sanctioned energy enterprise despite the country’s ongoing civil war.

Canadian Foresight Group (CFG), chaired by Canadian citizen Songning Shen, met regime officials this week to discuss operations at Block M15 in the Tanintharyi deep-sea zone. The firm holds an 80 percent stake in the block, which lies near Kadan Island in the Andaman Sea.

The project could prove highly lucrative. Myanmar’s military authorities recently announced the discovery of four new offshore fields, including one in Tanintharyi estimated to contain 95 trillion cubic feet of gas — potentially among the largest reserves in the world. BBC Burmese has suggested the venture could generate revenue equal to 40 percent of Myanmar’s foreign currency earnings.

CFG’s partner, Myanma Oil and Gas Enterprise (MOGE), is the regime’s biggest source of foreign currency and has been heavily sanctioned by Western governments since the 2021 coup. Those funds are widely seen as financing war crimes and crimes against humanity.

Canada, however, has not yet imposed direct sanctions on MOGE, despite calls from advocacy groups such as Justice for Myanmar.

The sudden move by CFG raises fresh concerns about foreign firms working with Myanmar’s military-controlled economy. Rights campaigners argue that such projects risk entrenching the regime’s grip on power while communities continue to suffer from conflict and repression.

With drilling expected to start by the end of the year, the deal highlights the tension between vast energy profits and the international push to isolate Myanmar’s military government.

-2026-08-12

Ton of business to be had via Myanmar. Dawei port + roads (?), powerhouse. Alas, military rule opium trade envelopes, setting things back.

For context, CFG signed this PSC with Myanmar in 2015.

https://canadianforesight.com/press-release/

Gotta wonder why a 'Canadian' company would drill for oil in Myanmar. Who would be the main buyer? China, of course.

AI summary:

Canadian Foresight Group (CFG) is a Singapore-registered and Calgary-based private oil and gas firm. While it is not formally owned by the Chinese government, it features significant Chinese financial backing, and its leadership and key team members include Canadian citizens of Chinese descent with extensive professional ties to Chinese energy sectors and institutional investors.

Leadership and Background

• Led by Chairman and Managing Director Songning Shen, a Canadian professional geologist of Chinese descent recognized for prior oil discoveries in both Canada and China.

• The board and management include individuals with past operational and directorship experience in Chinese corporate entities, such as China Coal and various mainland-linked trading firms.

Financial and Corporate Ties

• CFG states it has strong financial backing from institutional and private investors across both North America and Asia.

• Corporate disclosures note that major Chinese financial institutions and state-linked entities (such as investment arms tied to the Bank of China) have held prominent management or advisory financing roles within the broader group ecosystem.

3 minutes ago, ronnie50 said:

Who would be the main buyer?

I think Thailand buys gas from Myanmar?

Edited 8 minutes ago8 min by VocalNeal

1 minute ago, ronnie50 said:

Gotta wonder why a 'Canadian' company would drill for oil in Myanmar. Who would be the main buyer? China, of course.

AI summary:

Canadian Foresight Group (CFG) is a Singapore-registered and Calgary-based private oil and gas firm. While it is not formally owned by the Chinese government, it features significant Chinese financial backing, and its leadership and key team members include Canadian citizens of Chinese descent with extensive professional ties to Chinese energy sectors and institutional investors.

Leadership and Background

• Led by Chairman and Managing Director Songning Shen, a Canadian professional geologist of Chinese descent recognized for prior oil discoveries in both Canada and China.

• The board and management include individuals with past operational and directorship experience in Chinese corporate entities, such as China Coal and various mainland-linked trading firms.

Financial and Corporate Ties

• CFG states it has strong financial backing from institutional and private investors across both North America and Asia.

• Corporate disclosures note that major Chinese financial institutions and state-linked entities (such as investment arms tied to the Bank of China) have held prominent management or advisory financing roles within the broader group ecosystem.

Gotta wonder why a 'Canadian' company would drill for oil in Myanmar.

You mean gas, not oil.

Who needs gas? Hmmm. Let's review.

India<2%

China="very small part"

Natural gas currently supplies roughly two-thirds of Thailand's electricity.

Malaysia uses natural gas to generate a substantial portion of its electricity, accounting for roughly one-third to over 40% of the national power mix

Indonesia uses natural gas as a major fuel source to generate electricity, accounting for roughly 18% of the country's total power generation

Natural gas powers nearly half of Taiwan's total electricity production

Singapore generates about 95% of its electricity using natural gas.

The truth is always more complicated than opinion. 🧘