ASEAN KEY DESTINATIONS
Joint expansion discussed
Two Thai energy firms, PTT Exploration and Production Plc and Petronas Carigali, are discussing increasing gas production from a joint development area.
The Malaysia-Thailand Joint Development Area, equally shared by the two companies, produces 335 million cubic feet per day of gas.
"We believe there could be more gas wells in this area," said chief executive officer Anon Sirisangtaksin.
Demand of natural gas by the two countries is rising significantly in line with the growth of the power and transport sectors.
PTTEP expects the joint venture will start the exploration of at least two wells soon. It will allocate part of its 20-billion-baht budget for exploration in this gas field if the agreement is finalised.
In another petroleum development, the company expects the first shipment of crude oil to Thailand from its Montara Oil Block will be early next year after the Australian government gave the nod last week for the company to carry on its operations there under close monitoring for safety and environmental concerns.
Operations in the block are currently suspended because of a large fire that broke out in 2009 that required about 18 months of investigation from the local government. PTTEP expects to start crude oil production in the fourth quarter this year at an average of 35,000-40,000 barrels per day.
It plans to build a floating liquefied natural gas platform in Montara's other gas blocks with export to Thailand of 2 million tonnes per year by 2016.
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