4 February 2021 0:25 GMT Updated 4 February 2021 0:25 GMT in London
OPINION: A week is a long time in politics” is a quote often attributed to former UK prime minister Harold Wilson.
Less than a week ago, Myanmar had a democratically elected government and 2021 was shaping up to be decent for the Southeast Asian nation’s upstream sector.
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Australia’s Woodside Petroleum had just spudded the first in a three-well offshore exploration campaign; Thailand s PTTEP was evaluating platform bids for the next phase of its Zawtika gas field development; and South Korea s Posco was forging ahead with expansion of its giant Shwe offshore gas project.
By Reuters Staff
3 Min Read
MELBOURNE, Feb 2 (Reuters) - Australia’s Woodside Petroleum said it is working to understand how its exploration drilling plan for offshore Myanmar this year might be affected after the military seized power there on Monday.
Woodside has been working with French giant Total SA and Myanmar-based MPRL E&P to develop Myanmar’s first ultra-deep water gas project, known as A-6. The Australian firm said in January it had started a three-well drilling campaign in a block next to A-6 and in acreage where it hopes to develop a northern hub.
As Woodside reviews the impact of the coup, the threat of sanctions hangs over Myanmar: the United States threatened to reimpose trade curbs lifted over the last decade after the country’s generals seized power and detained elected leader Aung San Suu Kyi.
Woodside planned to drill three wells offshore Myanmar this year Suzuki Moto says ops in plants remain suspended (Adds details on Suzuki, Mitsubishi, background)
MELBOURNE, Feb 2 (Reuters) - Australia’s Woodside Petroleum said it had put some activity on hold in Myanmar after generals seized power and detained elected leader Aung San Suu Kyi, while Japan’s Suzuki Motor said operations at two plants remained suspended.
Companies across the world with business interests in the South East Asian country are scrambling to assess the turmoil as the military coup sparked global outrage and the United States threatened to reimpose sanctions on the generals.