Myanmar coup and impact on oil and gas industry
Following the military coup in Myanmar on Monday, February 1st, Wood Mackenzie and Verisk Maplecroft experts weigh in on what this means for the oil and gas industry.
Wood Mackenzie research associate Saloni Kapoor said: “We estimate that new upstream projects worth US$2 billion up until 2030 are yet to take final investment decision, including the A6 project which now risks further delay.
“Key developments such as PTTEP’s Block M9 (Zawtika) and Woodside’s Block A6 account for around 40% of the country’s expected supply until 2030. Incremental phases at Zawtika will provide upside to Myanmar’s energy mix, but if A6 does not progress as planned, an estimated 2 tcf of gas supply is threatened. This supply is critical to make up for declining volumes from legacy fields.