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PTT Exploration and Production wins concession for two oil blocks in Myanmar

PTT Exploration and Production Plc, PTTEP has won its bids for two onshore oil blocks in Myanmar, Thai Energy Minister Pichai Naripthaphan said Wednesday after he met his Myanmar counterpart U Than Htay on Tuesday.

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PTT Exploration and Production Plc, PTTEP has won its bids for two onshore oil blocks in Myanmar, Thai Energy Minister Pichai Naripthaphan said Wednesday after he met his Myanmar counterpart U Than Htay on Tuesday.

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Mr Pichai accompanied Thai Prime Minister Yingluck Shinawatra to Myanmar as she attended the regional summit in Naypyidaw.

PTT Exploration and Production wins concession for oil blocks in Myanmar

PTT Exploration and Production wins concession for oil blocks in Myanmar

The Thai energy minister said his Myanmar counterpart informed him that PTTEP, subsidiary of PTT Plc, Thailand’s largest oil conglomerate, won its bid for two Myanmar onshore oil blocks. Myanmar also indicated support of the PTTEP proposal to seek petroleum in the Andaman Sea in two offshore petroleum blocks – MD7 and MD 8-  but more details must be considered and discussed.

Myanmar wanted to see Thai investment in a gas separation plant in Myanmar after the PTTEP’s exploration found wet gas in the M9 gas field, which will be ready for use in 2016. The M9 field is Myanmar’s first field of wet gas, suitable for petrochemical production, he said.The PTT group is ready to invest more and Myanmar can also invest by granting Thailand further petroleum concession, the Thai minister said.

via PTTEP wins concession for two Myanmar oil fields.

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