PTT Exploration and Production Plc (PTTEP) plans to announce next month its move after the withdrawal of its partners — Total Energies and Chevron Corp — from the Yadana gas production project in Myanmar.
Orachon Ouiyamapun, senior vice-president of PTTEP’s finance division, told investors yesterday the company only received a notification letter from France-based Total Energies, but has yet to receive one from US-based Chevron.
“Our executives are looking into this issue to decide on a next move. We plan to inform the public early next month,” she said.
The French and US oil giants on Jan 21 told the public that they planned to exit from the country, citing the worsening humanitarian situation following last year’s coup.
Myanmar has been in chaos since the army overthrew the elected government in February last year.
Total Energies is a gas production operator,…
