Thailand Expected to Auction 29 Oil, Gas Blocks by February Next Year
Thailand is looking to put up for auction 29 onshore and offshore blocks in February next year, news agency Reuters reported Wednesday.
The auction round will be first since 2007 and 21st overall. Out of 29 blocks, 23 are onshore and six offshore, in Gulf of Thailand.
Interested investors must submit proposals by Feb. 18 next year, Kurujit Nakornthap, deputy permanent secretary of the energy ministry, said in a statement, according to Reuters.
The blocks on offer will allow Thailand to tap an estimated volume of 1 to 5 trillion cubic feet of natural gas and 20 to 50 million barrels of crude oil, the news agency said citing the ministry.