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    PTTEP Will Bid for Bangkot Gas Field Stake

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Summary

Thailand's PTT Exploration and Production Pcl will put in a bid for right to operate the Bongkot natural gas field,

by: Shardul

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Asia/Oceania

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PTTEP Will Bid for Bangkot Gas Field Stake

Thailand's PTT Exploration and Production Pcl will put in a bid for right to operate the Bongkot natural gas field, news agency Reuters reported Wednesday.

Government of Thailand is looking to auction petroleum contracts that are expiring in the next 12 months.  

Although PTTEP confirmed its decision about Bongkot field, the company has not decided if it would bid for the right to operate the Erawan field where Chevron Corp holds concession contracts, Reuters quoted chief executive Somporn Vongvuthipornchai as saying.

Contracts for the two offshore gas fields are due to expire in 2022 and 2023. They have combined production of 2.2 billion cubic feet per day, or 76 percent of output in the Gulf of Thailand, the news agency added.

PTTEP already owns 44.4 percent of the Bongkot field and is vying for the BG Group’s 22.22 percent stake. BG was acquired by Shell earlier this year. The field contributes 20 percent to company's output. 

 

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