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Thailand and Myanmar sign oil sharing contract

The contract was signed by PTTEP, the Win Precious Resources Pte. Ltd., a Singaporean incorporated company and Myanmar Oil and Gas Enterprise.

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Thai state-owned PTT Exploration and Production Plc PTTEP signed a petroleum sharing contract with the Myanmar government Wednesday. Thai Energy Minister Arak Chonlatanon and his Myanmar counterpart U Than Htay on Wednesday witnessed the signing of a production sharing contract for two onshore petroleum blocks — PSC-G and EP-2 in the Central Myanmar Basin, west of Naypyidaw.

PTT Thailand

The contract was signed by PTTEP, the Win Precious Resources Pte. Ltd., a Singaporean incorporated company and Myanmar Oil and Gas Enterprise.

 

The Thai energy minister said Thailand also has a project to produce electricity in the short run to support Myanmar due to the rapidly growing demand for energy in Myanmar and its hosting of Southeast Asian Games in Naypyidaw next year.

Tevin Vongvanich, PTTEP president and chief executive, said the two blocks encompass about 15,000 square kilometres and about US$24 million will be spent in the first three years of exploration.The new energy source will be partly produced for domestic use in Myanmar.After Myanmar opened the country, the European Union lifted its economic sanctions against Myanmar and the U.S. eased its restrictions on Myanmar, changes which are leading to more industrial investment and higher energy use in Myanmar.

via Thailand’s PTTEP, Myanmar sign petroleum sharing contract.

Corporate

The environmental case for remote working

Anyone searching for a silver lining to the pandemic should look to the clear, blue skies above them. A reduction in pollution worldwide has been an unintended benefit of the lockdowns and stay-in-place orders imposed to control the spread of COVID-19.

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During the pandemic, the environmental and societal benefits of working at home quickly became apparent. How can businesses protect these benefits in the future?

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Investment

Thailand Q1 Investment Applications Soar 80% as FDI More Than Double says BOI

The top three source countries of FDI applications during the first quarter were South Korea, China, and Singapore, with similar levels of investment. Korean investment soared due to a large-scale joint venture in the medical sector, Ms Duangjai said.

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The Thailand Board of Investment (BOI) said today that in the first quarter of 2021, investment applications rose 80% from the year earlier period to a total value of 123.4 billion baht (USD3.9 billion), led by projects in the medical and electric and electronics (E&E) sectors, as foreign direct investment (FDI) applications more than doubled.

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