Malaysia’s Petronas and Japan’s Mitsubishi Corp are selling their stakes in Myanmar’s Yetagun gas field, following a host of other energy companies exiting the Southeast Asian nations since last year’s military coup.
Last month, TotalEnergies and Chevron, partners in a major gas project in Myanmar, said they were withdrawing from the country, citing the worsening humanitarian situation.
Late in January Australia’s Woodside Petroleum also announced it was pulling out of Myanmar, saying it is unable to work in the country following the military coup. It terminated a production-sharing contract with the state-owned oil and gas enterprise MOGE in November, and has since said it would abandon the remainder of its licences in the country.
