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Jul 08, 2010


Thomas Maung Shwe

you might find my article useful

US probes Transocean over ties to Burmese drug lords
Monday, 16 August 2010 17:14 Thomas Maung Shwe

Chiang Mai (Mizzima) – US-Swiss drilling company Tranoscean has admitted it is under investigation by the US Treasury over its “operations in Myanmar [Burma]”. The probe comes amid intense public scrutiny since its rig blew up in the Gulf of Mexico.

Since the explosion on Tranoscean’s rig in April caused America’s worst oil spill, the company hired by BP has acknowledged in its latest regulatory 10-Q filing with the Securities and Exchange Commission (SEC) it had “recently received an administrative subpoena” from the Treasury Department’s Office of Foreign Assets Control (OFAC) regarding its “operations in Myanmar [Burma]”. The filing was submitted on August 4.

The 10-Q form, is an SEC filing that must be submitted quarterly with the SEC and contains similar information to the annual 10-K form, however the information is generally less detailed, and the financial statements are generally unaudited.


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