Thailand-Myanmar ink new deal on petroleum exploration/production

BANGKOK, June 7 (TNA) - Thailand and Myanmar have concluded a new deal on energy cooperation, under which Thailand will share benefits from newly-discovered petroleum sources with the neighbouring country. Thai Energy Minister Arak Chonthanon and his Myanmar counterpart U Than Htay jointly witnessed the signing ceremony of the new contract on the shared benefits from petroleum exploration and production of two newly-discovered sources in Myanmar between PTT Exploration and Production (PTTEP) Public Company Limited, a subsidiary of PTT Public Company Limited (PTT), Thailand's largest petroleum firm, and Myanmar's Win Precious Company and Myanmar Oil and Gas Enterprise in Bangkok Thursday. Arak said that the new Thai-Myanmar deal will serve soaring energy demand in Myanmar, as Naypyidaw, Myanmar's new capital, will host the next Southeast Asian Games (SEA Games) in 2013. PTTEP President Tewin Wongwanich said that PTTEP plans to explore three more petroleum sources in the Myanmar sea in the future; while PTT Chief Executive Office (CEO) and President Pailin Chuchottaworn revealed that PTT is also interested in opening more petrol stations and producing liquefied petroleum gas or LPG tanks in Myanmar. (TNA)