PTT plans more investment in Myanmar

PTT is geared up to pour billions of US dollar investment into Myanmar, to extend its presence from the upstream oil and petroleum business to downstream, said its president and CEO Pailin Chuchottaworn.

Following billions of US dollar investment in the past years by PTT Exploration and Production (PTTEP), the national oil and gas company has started marketing lubricant products in the country. It is also building a standard fuel station on the highway linking Yangon with Nay Pyi Taw.

According to Pailin, the next could involve a power plant to address huge power demand in the country. A study is also underway for the investment in an oil refinery. He said that there are small refineries, which may be upgraded into a complex. On another front, PTTEP is ready to join the bidding for more exploration fields.

He noted that if the plans become clear, PTT could be investing billions more in the country.

Myanmar is part of Thailand’s national energy strategy, he said.

Source: The Nation

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