SEATTLE (Oil Monster): According to Reuters, Chevron has officially exited the Yadana natural gas field in Myanmar. Instead of selling it’s 41.1% stake in the gas field, Chevron redistributed it’s stake in Yadana to the field’s remaining stakeholders, PTT Exploration and Production (PTTEP) and Myanma Oil and Gas Enterprise (MOGE).
Located offshore Myanmar, the Yadana natural gas field has produced roughly 6 Bcmg per year. 70% of the recovered resources are exported to Thailand.
In 2022, Chevron announced it would exit Myanmar after condemning violence and human rights violations in the country. Myanmar has been embroiled in a humanitarian crisis since the elected government was overthrown in a 2021 coup.
Courtesy: www.worldoil.com
