The Tatmadaw, Myanmar's military, staged a coup beginning in February 2021 that has led to the arrests of thousands of people, pushing oil and gas companies operating within the country to withdraw. (Source: Aung Gaw / Shutterstock.com)
Effective July 20, TotalEnergies has withdrawn from Myanmar's gas transportation company MGTC as a shareholder and an operator, as well as from the Yadana field offshore Myanmar, according to a company release.
The company announced on Jan. 21 the decision to withdraw from the country due to turmoil caused by Myanmar's elected government being overthrown by the army in February 2021. Since the coup, security forces have killed over 1,400 people and arrested thousands more, leading several other oil firms, including Chevron, to withdraw from the country completely.
"As TotalEnergies definitively withdraws from Myanmar, our company repeats its condemnation of the abuses and human rights violations taking place in this country and reaffirms its support to the people of Myanmar and its hope for a swift return to peace and rule of law," the company stated in the release.
TotalEnergies determined that the company was no longer able to positively contribute to the country or comply with stakeholders, who asked that the company stop revenues going from the Yadana field to the state through state-owned Myanma Oil and Gas Enterprise.
Thailand-based PTT Exploration and Production was appointed by the project partners as the new operator. Since filing a six-month withdrawal notice in January 2022, TotalEnergies has worked with PTTEP to orderly transfer operations while ensuring the continued and safe gas production at the Yadana field.
Additionally, PTTEP offered employment to all Myanmar employees under the same job and salary conditions. Through a contribution to a dedicated fund, TotalEnergies set up a complementary support agreement between the company and PTTEP "to continue the historic economic development program with local communities in the MGTC pipeline area," according to the press release.
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