Thailand’s state-owned energy exploration firm joins French and Japanese companies to search for gas and oil resources in Myanmar. Thailand’s state-owned PTTEP has entered a partnership with France’s TOTAL and Japan’s JX NOEX for the M11 block, in Myanmar, ready to drill one exploration well by the third quarter of next year.
President/CEO Tevin Vongvanich of PTT Exploration and Production (PTTEP) said the Thai firm’s wholly-owned subsidiary PTTEP International Limited (PTTEPI) has selected two strategic partners, Total E&P Myanmar and JX Nippon Oil & Gas Exploration (Myanmar)
Ltd (JX Myanmar), to jointly explore the M11 block.
TOTAL will hold 40 per cent of shares while JX NOEX will hold 15 per cent shares. PTTEP remains as operator with 45 per cent of the shares. Their farm-out agreement is subject to the consent of the Myanmar government.
Mr Tevin said that the PTTEP’s partner selection for M11 is a strategy to manage the investment risk, especially for deep-water exploration. He said it represents a good opportunity to exchange knowledge and technology between the partners and explore future investment opportunities together.
Thai Government Launches “Factory Sandbox” Scheme to Protect 3 Million Jobs
The plan will focus on plants which employ at least 500 people and will build confidence among both Thai and foreign investors at a time when supply chains in rival countries are shutting down.
BANGKOK (NNT) – Thailand’s government has launched a pilot “Factory Sandbox” program to test, vaccinate and isolate factory workers, with the aim of limiting COVID-related disruptions to Thailand’s important export-driven manufacturing sector.(more…)
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.
Thailand Approves Package to Attract Wealthy Foreigners and Professionals
Thailand’s Cabinet has approved an economic stimulus and investment promotion package aimed at attracting wealthy foreigners and highly skilled professionals...
The Role of Telemedicine Today: During and Beyond the COVID-19
Lockdowns, quarantine periods, and hospitals fast filling to the brink needed the medical community to come up with solutions fast....
Malaysia, Thailand banks to join the ASEAN Banking Integration Framework
Banking institutions from Thailand and Malaysia are invited to join the ASEAN Banking Integration Framework and indicate their interest to...
Climate Change Could Force 49 Million People to Migrate in East Asia and the Pacific
Out-migration hotspots in agricultural areas of central Thailand and Myanmar coincide with areas expected to see declines in both water...
Thailand BOI Approves Measures to Support Carbon Reduction
greenhouse gas emission as well as an enhanced scheme for electric vehicles and measures to mitigate Covid-19 impacts and support...