PTTEP Seeks Upstream Investment Opportunities in Africa

Thailand's upstream petroleum company PTT Exploration and Production Plc (PTTEP) is exploring opportunities to invest in Africa beyond Algeria, Kenya and Mozambique, where it already has investments, a senior official was quoted as saying in local daily Bangkok Post Friday.

The Thai company is looking into the feasibility of investing in various African countries, with the study touching on areas such as business potential, politics, foreign investment policies and technology requirements, PTTEP CEO and President Tevin Vongvanich said.

PTTEP, which has a 35 percent interest in Algeria's 433a & 416b concessions, indicated first oil from the Bir Seba block in December. Production from the block, projected to reach 20,000 barrels per day, will be its first in Algeria.

Meanwhile, the Thai firm reported that the Mozambique's Rovumma project is now in the exploration phase, with appraisal wells expected to be drilled and liquefied natural gas (LNG) production targeted for commencement in 2020, Bangkok Post added.

Separately, the Zawtika project in Block M9 offshore Myanmar is likely to produce first gas in July, with 240 million standard cubic feet (MMscf/d) being supplied to Thailand, while PTTEP has successfully delivered 100 MMscf/d of gas from the block to domestic users.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Petrofac Suspends Group Chief Operatin... (May 25)
 -  EnQuest On Track For Kraken First Oil ... (May 25)
 -  Energean Signs Lease Agreement for Exp... (May 25)
 -  Seadrill CEO Praises Workforce (May 24)
 -  Serinus Shuts-In Sabria Field Due to S... (May 23)


Most Popular Articles

From the Career Center
Jobs that may interest you
Senior Land Professional Job
Expertise: Landman|Lease Analyst
Location: Oklahoma City, OK
 
Surface Land Professional Job
Expertise: Landman|Lease Analyst
Location: San Antonio, TX
 
Automation Systems Analyst II
Expertise: Business Development
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $51.46/BBL 4.63%
Light Crude Oil : $48.9/BBL 4.78%
Natural Gas : $3.18/MMBtu 0.90%
Updated in last 24 hours