Petronas, PTTEP, JX Nippon confirm exit from Yetagun project

Malaysia’s Petronas, Thailand’s national upstream company PTTEP and Japan's JX Nippon Oil & Gas Exploration have confirmed their exit from the producing Yetagun field offshore Myanmar in the wake of the deteriorating security situation following the February 2021 military coup.

The mature Yetagun field, which straddles offshore blocks M-12, M-13 and M-14, has seen output dwindle in recent years and production was even shut in for some months of 2021 after falling below the technically viable threshold.