11-09-03 Thailand's PTT Exploration & Production has increased its stake in Myanmar's Yetagun gas field to 19.3 % from 14.2 % through its unit PTT International. PTTEP's unit has bought a 5.2 % stake from Premier Oil's unit Premier Petroleum Myanmar for $ 78 mm.
The transaction will be retroactive to Sept. 30, 2002, PTTEP said.

The change follows the pull out of Premier Petroleum Myanmar, which owned a 26.7 % stake in the project. Petronas Caligari, the major shareholder in the project, has also increased its stake to 40.9 % from 30 %.
Myanmar Oil & Gas Enterprise has raised its stake to 20.5 % from 15 %. Nippon Oil has increased its shares to 19.3 % from 14.2 %, a PTTEP's official said.

Yetagun field is located in the Gulf of Mataban and covers 24,130 sq km. It produces around 300 mm cfpd of natural gas and around 8,000-9,000 bpd of condensate.
It also operates a 277 km gas pipeline from the Yetagun field to Thailand-Myanmar border.