Thailand's PTTEP seen taking over big Myanmar gas field as majors exit

France's TotalEnergies and US firm Chevron said they were leaving, citing the worsening humanitarian situation following the coup. - Reuters

SINGAPORE/BANGKOK (Reuters): Thailand's state oil and gas explorer looks set to take over Myanmar's biggest gas field, as TotalEnergies and Chevron Corp exit in the wake of last year's military coup in the South-East Asian state, analysts say.

A move by PTT Exploration and Production (PTTEP) to become operator of Yadana field, in which it already has a 25.5 per cent stake, would keep vital gas supplies flowing to Thailand and Myanmar, and could contribute revenues for Myanmar's ruling junta amid tighter US and other sanctions.