Malaysia s Petronas declares force majeure at Myanmar gas field reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
05 Apr 2021 (Last Updated April 5th, 2021 11:41)
PC Myanmar (PCML), a subsidiary of Malaysia s oil and gas company Petronas, has declared force majeure (FM) on its Yetagun gas and condensate field located offshore Myanmar.
The Yetagun gas and condensate field covers an area of approximately 24,130km². Credit: Charlie Hang on Unsplash.
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PC Myanmar (PCML), a subsidiary of Malaysia’s oil and gas company Petronas, has declared force majeure (FM) on its Yetagun gas and condensate field located offshore Myanmar.
Covering an area of approximately 24,130km², the Yetagun gas and condensate field spans in blocks M12, M13 and M14 in the Gulf of Martaban, Andaman Sea.
Singapore A force majeure declaration by Malaysia s Petronas at its Yetagun field in Myanmar and a complete gas production halt at the upstream project are likely to support Thailand s spot LNG imports as it looks to offset one of its main sources of pipeline gas supply from its Southeast Asian neighbor.
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Thailand s national oil company PTT has been exposed to declining offshore gas production in Myanmar for several years, most importantly from the Yetagun gas field that has been posting a steady decline in output since around 2013, which its operators found difficult to arrest or reverse.
Petronas declares force majeure in Myanmar
Apr 5, 2021 3:00:am
Summary The production rate at its Yetagun gas field slipped below the threshold of the offshore gas processing plant, it said.
by: Shardul Sharma
Posted in:
Petronas declares force majeure in Myanmar
Petronas on April 1 declared force majeure on its Yetagun field due to depletion of gas production at the field, located in the Andaman Sea, offshore Myanmar, in Blocks M12, M13 and M14, it said on April 2.
“The decision was made following challenges in the wells deliverability that resulted in the production rate dropping below the technical threshold of the offshore gas processing plant,” it said. PC Myanmar (Hong Kong), a subsidiary of Petronas, has ceased production at the Yetagun field until further notice.
Petronas has revealed that its subsidiary, PC Myanmar (Hong Kong) Limited, has declared force majeure on its Yetagun field, located offshore Myanmar.
Petronas has revealed that its subsidiary, PC Myanmar (Hong Kong) Limited, has declared force majeure on its Yetagun field, located offshore Myanmar, “due to depletion of gas production”.
The decision was made following challenges in well deliverability that resulted in the production rate dropping below the technical threshold of the offshore gas processing plant, Petronas noted, adding that PC Myanmar (Hong Kong) Limited has temporarily ceased production at the Yetagun field until further notice.
“Prior to the cessation of production, Yetagun field was producing well below the technical turndown rate of its facilities,” PC Myanmar (Hong Kong) Limited Country Head, Liau Min Hoe, said in a company statement.