Myanmar is keen to drum up fresh upstream investments from existing players and new entrants as industry heavyweights including TotalEnergies, Petronas, Woodside Petroleum, Mitsubishi and Eneos leave the country.

Government ministers Maung Maung Ohn and Aung Naing Oo confirmed that TotalEnergies will exit the giant producing Yadana field and related gas transportation infrastructure, effective 20 July.

The French supermajor’s 31.24% stake will be allocated proportionately between the existing partners — PTTEP of Thailand, US supermajor Chevron and state-owned Myanma Oil & Gas Enterprise.