Malaysia’s state energy firm Petronas’ subsidiary, PC Myanmar (Hong Kong) Ltd (PCML) unit, has declared force majeure and has temporarily halted production at the Yetagun field due to depletion of gas supply. The field is located off Myanmar in Blocks M12, M13 and M14. The decision was made after obstacles caused the output rate to fall below the offshore gas processing plant’s technical threshold.
PCML has been heading the gas project starting 2003 and holds a 40.9 per cent stake in Yetagun, while Myanmar Oil and Gas Enterprise has a 20.5 per cent stake. Nippon Oil Exploration (Myanmar) Limited owns 19.3 per cent of the company, while PTTEP International Limited owns the remaining 19.3 percent.