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PTTEP’s net profit jumps 60% from recovered oil prices & effective operation & cost management

PTT Exploration and Production Public Company Limited (PTTEP) reported 2017’s net profit at USD 594 million (equivalent to THB 20,579 million), soaring by more than 60% despite the impairment recognition of USD 558 million from the development plan adjustment in the Mariana Oil Sands project. Earnings Before Intereset, Taxes, Depreciation and Amortization (EBITDA) margin maintained […]

PTTEP partners with Total in Myanmar’s MD-7 field

PTT Exploration and Production Plc (PTTEP) has entered into a partnership agreement with Total E&P Myanmar, divesting a 50% participating interest in the Myanmar MD-7 Project. The company will collaborate with Total in the exploration and development activities in the block, which is located in the Gulf of Moattama, offshore Myanmar. The transaction has been […]

Energy dilemma

Myanmar needs oil and gas revenue to spur its economy and new discoveries to feed its growing energy appetite, but low oil prices could bring cutbacks in exploration. Myanmar is bracing for a rougher ride after a few years of giddy economic expansion as foreign direct investment slows amid falling oil prices and global uncertainty. […]

PTTEP sells interest in another Myanmar onshore block

A subsidiary of Thailand’s state owned PTT Exploration and Production (PTTEP) has sold a 10 percent holding in another Myanmar onshore block, as international oil prices touch as near-seven-year low, the company said yesterday. PTTEP South Asia sold its 10pc interest in onshore block MOGE-3 to Japanese Mitsui Oil Exploration (MOECO), the same company that […]