Singapore — Malaysian Petronas' upstream subsidiary PC Myanmar (Hong Kong) Limited declared force majeure on its Yetagun field in Myanmar on April 1 due to the depletion of gas production at the field, the national oil company said in a statement late April 2.
Not registered?
Receive daily email alerts, subscriber notes & personalize your experience.
Register NowThe Yetagun, located in the Andaman Sea, offshore Myanmar, in Blocks M12, M13 and M14, is a key supplier of pipeline gas to Thailand, which is likely to boost its LNG imports to offset the impact of the force majeure.
Thailand's national oil company PTT, and exploration company PTTEP did not immediately respond to queries on the force majeure. PCML said it was taking all necessary measures to resume production as soon as possible.
"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. PCML has temporarily ceased production at the Yetagun field until further notice," Petronas said in the statement.
"Prior to the cessation of production, the Yetagun field was producing well below the technical turndown rate of its facilities. There has been a drastic decline in the production level due to subsurface challenges in the field since January 2021 and it has further deteriorated recently," PCML Country Head Liau Min Hoe said.
Liau said continuing to produce at a low rate would create significant risks to the integrity of the company's assets and the safety of its people.
"As a responsible operator, we had to temporarily cease production and declare force majeure. 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.
Petronas has been the operator of the Yetagun Gas Project since 2003, in which it has a 40.9% participating interest, while state-run Myanma Oil and Gas Enterprise holds 20.5%, Nippon Oil Exploration (Myanmar) holds 19.3% and PTTEP International holds the remaining 19.3%.
"gas" - Google News
April 05, 2021 at 09:29AM
https://ift.tt/3fOzXdw
Petronas declares force majeure at Yetagun offshore gas field in Myanmar - S&P Global
"gas" - Google News
https://ift.tt/2LxAFvS
https://ift.tt/3fcD5NP
Bagikan Berita Ini
0 Response to "Petronas declares force majeure at Yetagun offshore gas field in Myanmar - S&P Global"
Post a Comment