Pttep and Chevron increase Myanmar field stakes

The gap left by TotalEnergies’ withdrawal from the Yadana gas project is being filled by its former partners

Chevron and Thai state-owned Pttep are both to increase their stakes in Myanmar’s Yadana gas field, although the US firm still intends to exit the country following last year’s military coup. TotalEnergies is withdrawing from the project—having previously operated the field and its associated gas pipeline system with a 31.24pc stake—and its former partners will increase their shares accordingly. Chevron will increase its stake to 41.1pc from 28.26pc, while Pttep will expand to 37.1pc from 25.5pc. The Thai firm also “confirmed its willingness to take over as operator”, according to TotalEnergies. State-owned Myanma Oil and Gas will up its ownership to 21.8pc from 15pc. “In light of the except