ID :
198222
Sat, 07/30/2011 - 14:33
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Shortlink :
http://m.oananews.org//node/198222
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PTT to resume normal gas supply and to expand investment into Vietnam
BANGKOK, July 30 (TNA) - Electricity Generating Authority of Thailand (EGAT) Governor Suthas Patamasiriwat has assessed that PTT Public Company Limited (PTT), the country's petroleum giant, is likely to completely repair a leaked gas pipeline in the Gulf of Thailand and to resume its normal gas supply by early next month, some 30 days ahead of its earlier schedule.
The EGAT governor promised that his state-run agency will not raise its power charges on local households' bills due to the gas pipeline leakage, saying, however, that its fuel tariff (FT) charge needs to be raised anyway because natural gas, a major fuel for power generation in country, is much more expensive.
Meanwhile, PTT Exploration and Production (PTTEP), Thailand’s sole petroleum exploration and production firm and a major subsidiary of PTT, has insisted that it will start the production of crude oil in Vietnam in the third quarter of this year as planned, with its initial production targeted at 18,000-20,000 barrels per day, before increasing to some 40,000 barrels per day at the end of this year.
Anon Sirisaengtaksi, President and Chief Executive Officer (CEO) of PTTEP, noted that his company has continued exploring new petroleum sources domestically and internationally and has continued developing new projects in order to maintain its oil production capacity as planned.
As for the PTTEP Australasia project in Australia, Anon said that his company expects to resume its oil production in the Montara source in the first quarter of 2012, as an action plan to address the problem of oil spills in the Australian source is being worked out with progress having been periodically reported to the Australian Ministry of Natural Resources and Energy, adding that since the oil spills took place in the second quarter of this year, his company has received compensation worth 105 million US dollars so far.
In addition, the PTTEP top management revealed that his firm expects to start its crude oil production under several projects as planned, including the South Bongkot Project by the first half of 2012 and Zawtika Project in Myanmar by 2013; while petroleum produce under its Oil-Sands-KKD Project in Canada's Leismer region has been rising since January 2011 to some 14,000 barrels of crude oil per day currently.
According to the PTTEP chief, his company's revenues increased to 729 US dollars during the January-June 2011 period, after sales of its crude oil had risen by some 10 per cent. (TNA)
The EGAT governor promised that his state-run agency will not raise its power charges on local households' bills due to the gas pipeline leakage, saying, however, that its fuel tariff (FT) charge needs to be raised anyway because natural gas, a major fuel for power generation in country, is much more expensive.
Meanwhile, PTT Exploration and Production (PTTEP), Thailand’s sole petroleum exploration and production firm and a major subsidiary of PTT, has insisted that it will start the production of crude oil in Vietnam in the third quarter of this year as planned, with its initial production targeted at 18,000-20,000 barrels per day, before increasing to some 40,000 barrels per day at the end of this year.
Anon Sirisaengtaksi, President and Chief Executive Officer (CEO) of PTTEP, noted that his company has continued exploring new petroleum sources domestically and internationally and has continued developing new projects in order to maintain its oil production capacity as planned.
As for the PTTEP Australasia project in Australia, Anon said that his company expects to resume its oil production in the Montara source in the first quarter of 2012, as an action plan to address the problem of oil spills in the Australian source is being worked out with progress having been periodically reported to the Australian Ministry of Natural Resources and Energy, adding that since the oil spills took place in the second quarter of this year, his company has received compensation worth 105 million US dollars so far.
In addition, the PTTEP top management revealed that his firm expects to start its crude oil production under several projects as planned, including the South Bongkot Project by the first half of 2012 and Zawtika Project in Myanmar by 2013; while petroleum produce under its Oil-Sands-KKD Project in Canada's Leismer region has been rising since January 2011 to some 14,000 barrels of crude oil per day currently.
According to the PTTEP chief, his company's revenues increased to 729 US dollars during the January-June 2011 period, after sales of its crude oil had risen by some 10 per cent. (TNA)
