Petronas on April 1 declared force majeure on its Yetagun field due to depletion of gas production at the field, located in the Andaman Sea, offshore Myanmar, in Blocks M12, M13 and M14, it said on April 2.  

“The decision was made following challenges in the wells deliverability that resulted in the production rate dropping below the technical threshold of the offshore gas processing plant,” it said. PC Myanmar (Hong Kong), a subsidiary of Petronas, has ceased production at the Yetagun field until further notice. 

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“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,” PC Myanmar's country head, Liau Min Hoe said. “Continuing to produce at a low rate would impose significant risks to the integrity of our assets and the safety of our people.”  

PC Myanmar has been the operator of the Yetagun gas project since 2003, where it holds 40.9% participating interest, while Myanma Oil and Gas Enterprise holds 20.5%, Nippon Oil Exploration (Myanmar) holds 19.3% and PTTEP International holds the remaining 19.3%. 

The company said that it remains committed to its project in Yetagun and is taking all necessary measures to resume production as soon as possible.