Total and Woodside ink deal with Myanmar for offshore gas project

Agreement marks milestone in opening door to energy investment

French oil company Total and Australia's Woodside will each take 40% stakes in an offshore drilling project in Myamar, with local partner MPRL E&P holding the rest. (Photo courtesy of MPRL E&P)

YUICHI NITTA, Nikkei staff writer

December 26, 2019 17:51 JST

YANGON -- French energy company Total and Australia's Woodside Energy, along with their local partner, have agreed with the government of Myanmar on financial terms for an offshore natural gas project.

The A-6 project, an offshore field in the Bay of Bengal off the coast of the southwestern Ayeyarwary region, will be Myanmar's first ultra-deepwater natural gas field and is expected to attract billions of dollars in investment.