Save for later Print Download Share LinkedIn Twitter Thailand's PTT Exploration and Production (PTTEP) said it will take over as operator of the Yadana gas field in Myanmar following TotalEnergies' decision to exit the country. State-controlled PTTEP’s announcement had been widely expected because the company’s operations in Myanmar help support Thailand’s energy security goals. The Yadana offshore field, located in Blocks M5 and M6 in the Andaman Sea, meets about 11% of Thailand’s gas demand. Yadana produces 770 MMcf/d of gas, of which around 550 MMcf/d feeds power plants that provide electricity to 11 million people in western and central Thailand. The remaining 220 MMcf/d of gas cover about 50% of neighboring Myanmar’s domestic gas demand. Total announced in January that it would exit Myanmar because of the deterioration in the human rights situation there after a coup in February 2021. Going forward, PTTEP will hold a 37.1% interest, while Chevron will hold 41.1% and state-owned Myanmar Oil and Gas Enterprise 21.8%. Chevron also plans to withdraw from Myanmar via “an orderly and planned transition that will lead to an exit through a transaction,” the US major told Energy Intelligence. PTTEP will become one of the largest upstream players in Myanmar, supporting its plans to pursue “power business opportunities” based on natural gas/LNG and renewables.
