Myanmar today has four producing offshore fields — Yadana, Yetagun, Shwe and Zawtika — all of which are gas with some also producing condensate.
The respective operators are embarking on projects to expand and/or maintain output, offering contractors a few morsels against the backdrop of the significant downturn in final investment decisions for regional greenfield developments.
The fact that companies are putting more money into Myanmar field developments is a testament to the country’s geology and prospectivity despite the high government take — Myanmar’s production sharing contract terms are some of the toughest in the world.
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