PTTEP subsidiary divests in Myanmar blocks

After the divestiture, PTTEP SA’s holding in the two onshore blocks will be reduced to 70 per cent, while Moeco and Palang Sophon will each hold 10 per cent in both fields. The balance is taken up by Win Precious Resources. Tevin Vongvanich, president and chief executive of PTTEP, said the divestiture was part of […]

PTTEP to Pour in $72 Million for Myanmar Onshore Oil Block

A subsidiary of Thai energy giant PTTEP and its joint venture partners have signed a Production Sharing Contract (PSC) with the state-run Myanma Oil and Gas Enterprise (MOGE) for the exploration and production rights of an onshore block in Myanmar. PTTEP plans to conduct the 2D and 3D seismic surveys and drilling campaign of four […]

PTTEP to invest US$3.3 billion in oil and gas

The Thai national oil giant PTTEP has announced that it will invest US$3.3 billion in Myanmar over the next five years. PTT Exploration and Production (PTTEP) held a press conference in Yangon on Tuesday where it outlined its drilling and exploring operations in Myanmar. “Zawtika is the biggest offshore among the PTTEP projects. We are […]

Thailand PTTEP assures transparency in Myanmar investments

PTT Exploration and Production Plc (PTTEP) have given assurances that its five-year US$3 billion investment on oil exploration in Myanmar will be transparent. Tevin Vongvanich, PTTEP president and chief executive, said the US$3 billion allocation would be part of the company’s US$25 billion investment to produce 600,000 barrels of oil in 2020. The major portion […]