Deep-water well disappoints

摘要

A joint venture between Total and PTTEP has drilled a noncommercial deep-water exploration well off Myanmar. PTTEP said the well in Block MD-7 was completed in March 2020 but it was not commercial and costs were written off. The block, which is located in the Moattama basin, was awarded to Thai state player PTTEP on a 100% basis in May 2013. French supermajor Total subsequently farmed in to the block for a 50% stake.