PC Myanmar Limited (PCML), a subsidiary of Malaysian national oil company PETRONAS, has announced Force Majeure on its Yetagun field in the Andaman Sea, offshore Myanmar, on April 1, 2021 due to depletion of gas production in Blocks M12, M13, and M14.
The decision was taken after challenges in the wells’ deliverability caused the production rate to fall below the technical threshold of the offshore gas processing plant. PCML has temporarily halted production at the Yetagun field until further notice.
PCML Country Head, Liau Min Hoe stated: “Prior to the cessation of production, Yetagun field was producing well below the technical turndown rate of its facilities. There has been a drastic decline in production level due to subsurface challenges in the field since January 2021 and it has further deteriorated recently.”
It is worth noting that PCML has been the operator of the Yetagun Gas Project since 2003, where it and its subsidiary hold a 40.9% participating interest, while Myanma Oil and Gas Enterprise holds 20.5%, Nippon Oil Exploration (Myanmar), Limited holds 19.3% and PTTEP International Limited holds the remaining 19.3%.