Mizzima-Nov 10
The NGO Blood Money Campaign has issued a statement on 9 November entitled: Statement on Thailand’s Pursuit of New Gas Projects that Channel Blood Money to the Myanmar Criminal Junta. Following the military coup attempt in Myanmar in February 2021, international energy companies withdrew from offshore oil and natural gas projects, Malaysia-based Petronas exited in April 2022, France-based Total Energies left in July 2022, and U.S.- based Chevron withdrew in April 2024. However, PTTEP, a subsidiary of the Thai state-owned company PTT, took over and shared the stakes of the withdrawing companies, TotalEnergies and Chevron, along with Myanmar Oil and Gas Enterprise (MOGE), and became the operator of the Yadana and Zawtika projects.
Furthermore, Gulf Petroleum Myanmar (GPM), a privately owned Thai company, also shared the Petronas’ stakes with MOGE and became the operator of the Yetagun project. According to a statement from Myanmar Energy Monitor on February 12, 2025, PTTEP is the operator of the Yadana project with a 62.963% stake and is the operator of the Zawtika project with an 80% stake. On April 10, 2025, PTTEP signed a draft Memorandum of Agreement (MoA) with MOGE to cooperate in expanding gas production from the Yadana project.
On May 29, 2025, Gulf Petroleum Myanmar (GPM) signed a production sharing contract with MOGE for a new project named ‘Min Ye Thu’ in the Mottama Offshore block. GPM is part of the Northern Gulf Petroleum group of companies, which is based in Thailand. Read more at: https://eng.mizzima.com/2025/11/10/28062
