Thailand's PTTEP seen taking over Myanmar gas field as global majors exit

Thailand's PTTEP seen taking over Myanmar gas field as global majors exit

Photo: PTTEP website

Thailand’s state oil and gas explorer looks set to take over Myanmar’s biggest gas field, as TotalEnergies and Chevron Corp exit in the wake of last year’s coup in the Southeast Asian state, analysts say.

A move by PTT Exploration and Production Pcl (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, and could safeguard revenues for Myanmar’s government amid tighter U.S. and other sanctions.

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