PTTEP Sets 2013-2017 Capex Budget at $14.77B

BANGKOK - Thailand's PTT Exploration & Production PCL (PTTEP) said Monday that it has set its five-year capital expenditure and operating expenditure budgets for 2013-2017 at $14.77 billion and $9.90 billion respectively.

The company set its total budget for 2013 at $5.81 billion, $3.95 billion of which will be capex and the remainder operating expenditure, it said in a statement to the Stock Exchange of Thailand.

Most of the estimated budget this year will be used for petroleum production activities at existing projects as well as exploration and development activities overseas, including projects in Australia, Myanmar, Algeria and Mozambique, the statement said.

Copyright (c) 2012 Dow Jones & Company, Inc.

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