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.

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