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PTTEP to take over operating Yadana field

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Oilfield Technology,


Following TotalEnergies' decision to withdraw from the Yadana project as the operator and joint venture partner, Thai company PTTEP has said it will become the operator of the gas field, located offshore Myanmar.

The Yadana project currently produces approximately 770 million ft3/d of natural gas. Approximately 220 million ft3/d of this is used in Myanmar, accounting for 50% of the country’s gas demand. Around 550 million ft3/d of gas from the field is fed to 12 various power plants in Thailand for electricity generation, serving 11 million people living in the west and central parts of Thailand. This contributes to about 11% of Thailand’s gas demand.

The nomination of PTTEP as the new operator has been approved by the remaining partners in this project. The operatorship transfer is expected to be completed on 20 July 2022.

Under the Production Operating Agreement (POA), TotalEnergies’ share will be allocated proportionately to the remaining joint venture partners with no commercial value. After the effective date of TotalEnergies’ withdrawal, PTTEP will hold a 37.0842% participating interest, while a subsidiary of Chevron, Unocal Myanmar Offshore Company Ltd., will hold 41.1016%, which is the largest participating interest in the project.


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Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/15032022/pttep-to-take-over-operating-yadana-field/

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