Upstream reported this summer that Hyundai and McDermott would take part in a FEED contest for Shwe's phase three, but the South Korean player’s partner at that time could not be confirmed.

Posco International operates the Shwe development with 51% equity in joint venture, with state-owned Myanma Oil & Gas Enterprise on 15%, India’s ONGC Videsh having 17%, Gail on 8.5% and Korea ...