PTT Exploration and Production Public Company Limited (SET: PTTEP) announced that PTTEP International Limited or PTTEPI, a wholly-owned subsidiary of PTTEP, has been notified by TotalEnergies EP Myanmar on January 21, 2022 for its intention to withdraw, as both partner and operator, from Yadana project and Moattama Gas Transportation Company (MGTC), the gas pipeline company for Yadana project. TotalEnergies EP Myanmar will continue its operatorship of the project for the next 6 months to maintain continuity in gas production.
PTTEP is carefully considering its direction whereby putting the utmost importance for the energy security of both Thailand and Myanmar and preventing impacts on energy demand to the livelihood of people in both countries. PTTEP shall further inform progress on this matter.
Yadana project is a producing gas field located in the Gulf of Moattama, Myanmar. The consortium of Yadana project and MGTC consists of TotalEnergies EP Myanmar (as the Operator) with 31.2375% participating interest, Unocal Myanmar Offshore Company Limited (UMOCL) 28.2625%, PTTEPI 25.5%, and Myanmar Oil and Gas Enterprise (MOGE) 15%.