Chevron Abandons Yadana Gas Field Offshore Myanmar
American Chevron left the Yadana field offshore Myanmar. This was reported by Reuters with reference to a company representative.
Reason for leaving
Chevron’s share in the project was 41.1%. The shares were not sold, the company distributed them among the remaining shareholders:
– Thai company PTT Exploration and Production (PTTEP);
– the state-owned oil and gas enterprise of Myanmar – Myanma Oil and Gas Enterprise (MOGE).
Let us recall that in March 2022, interested parties chose the Thai state-owned company PTTEP as the operator.
Then its share in the Yadana field increased to 62.96%.
The decision was taken in the context of the continued deterioration of the human rights situation in Myanmar following the military coup in February 2021.
