TotalEnergies Decides To Withdraw From Myanmar - Quick Facts

(RTTNews) - TotalEnergies (TTE.L, TTE) said the company has decided to initiate the contractual process of withdrawing from the Yadana field and from MGTC in Myanmar, both as operator and as shareholder, without any financial compensation. The withdrawal will be effective at the latest at the expiry of the 6-month contractual period. TotalEnergies' interests will be shared between the current partners, and the role of operator will be taken over by one of the partners.

TotalEnergies has been a partner (31.24%) and operator of the Yadana gas field in Myanmar, alongside its partners Unocal-Chevron (28.26%), PTTEP (25.5%), a subsidiary of the Thai national energy company PTT, and the Burmese state-owned company MOGE (15%).