Petronas subsidiary PC Myanmar (Hong Kong) Ltd. (PCML) declared force majeure on Myanmar's offshore Yetagun gas field due to depletion of gas production at the field.
The Apr. 1 decision was made following well deliverability challenges resulting in a production rate drop below the technical threshold of the offshore gas processing plant, the company said in a statement Apr. 2. PCML has temporarily ceased production at the field until further notice, but said it remains committed the project and is taking all necessary measures to resume production as soon as possible.
“Continuing to produce at a low rate would impose significant risks to the integrity of our assets and the safety of our people,” said PCML Country Head, Liau Min Hoe. “We have put in place an intervention plan to mitigate the matter, and have informed the host authority, our partners and gas buyer of our decision,” he added.
PCML is operator of the Yetagun gas project (40.9%) with partners Myanma Oil and Gas Enterprise (20.5%), Nippon Oil Exploration (Myanmar) Ltd. (19.3%), and PTTEP International Ltd. (19.3%).
