PTTEP Plans Further Expansion In Vietnam

PTT Exploration and Production (PTTEP) is planning to expand investments in Vietnam for oil and gas exploration which may result in production of 490 million cubic feet/day.

The two projects under discussion are the Vietnam 48/95 field, in which PTTET is a 7-per cent shareholder, and Vietnam 52/97, in which the firm holds 8.5 per cent of shares. Both projects have Chevron as the main shareholder and project manager, MCOT online news reported

Currently, it is in the last stage of negotiation with the Vietnamese government on natural gas prices. It will then take another 42 months to lay the piping in the sea, with first production expected in 2016 with a capacity of 490 million cubic feet/day.

The Thai energy firm has four investment projects on the field in Vietnam. The first two, Vietnam 16-1 and Vietnam 9-2, are now under construction.