Zaw Min Tun, spokesman for Myanmar’s State Administration Council, says PTT Exploration and Production Pcl, a unit of PTT, has offered to acquire the combined 59.5% stake of Yadana gas field held by Total Energies and Chevron, reports Bloomberg.

He said several local firms are also keen to become part of the project and discussions have begun between the government, PTTEP and other prospective buyers.

Zaw Min Tun told Bloomberg this week that PTTEP “has offered us that they’re willing to take over all shares of Total and Chevron. But we’re not sure whether or not we should allow it to acquire all these shares.”

The Thai company is shaping up to become one of beneficiaries with Western companies exiting the oil and gas sector amid concerns of new sanctions. While the U.S. has recently slapped new sanctions of certain entities and individuals linked to the junta, it has stopped short of going after oil and gas companies in Myanmar that is widely seen as providing economic resources to the military regime, the report says.

Myanmar oil and gas have long been an important component of Thailand’s energy and fuel supplies.