Myanmar Coup Leads to Operator Exodus

TotalEnergies, Chevron and others abandon region citing worsening humanitarian situation.

Yadana field platform.

Thailand state oil and gas explorer PTTEP looks set to take over Myanmar’s biggest gas field as TotalEnergies and Chevron confirmed their exits, citing the worsening humanitarian situation following a coup.

A move by PTTEP to become operator of Yadana field, in which it already has a 25.5% stake, would keep vital gas supplies flowing to Thailand and Myanmar.

Both TotalEnergies and Chevron were part of a group operating the Yadana gas project off Myanmar’s southwest coast along with the Moattama Gas Transportation Company that runs a gas pipeline from the field to Myanmar’s border with Thailand. PTTEP would have an 85% stake in Yadana if it took all the interest held by TotalEnergies and Chevron. PTTEP already operates Myanmar’s smaller Zawtika field with an 80% stake; Myanmar’s state energy firm Myanma Oil and Gas Enterprise holds the remaining 20%.

Yadana produced 770 MMcf/D of gas in 2021, of which 570 MMcf/D was supplied to Thailand and the rest used to generate Myanmar’s electricity.