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PTTEP wins 3 more petroleum bids

PTT Exploration and Production Plc was awarded three more petroleum concession blocks in the Gulf of Thailand from the Mineral Fuels Department, with a combined area of 924 square kilometres.

Its subsidiary, PTTEP Thai Projects, holds stakes in three concessions for Blocks G6, G7 and G50, with partners - Chevron Petroleum (Thailand), Mitsui Oil Exploration, and Moeco.

 They won the contracts from the 20th petroleum concession bidding round. Among newcomers are Salamander Energy (E&P) and Twinza Oil. More contracts for additional 19 blocks will be signed soon and 32 more blocks will be open for bidding within May 2008.

 In 2007, the government earns Bt106.5 billion from exploration and production industry.

- The Nation



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