Thai PTTEP May Cut 2016 Budget, Keen for Stake in BG's Bongkot Gas Field

Reuters

BANGKOK, Jan 12 (Reuters) - Thailand's PTT Exploration and Production Pcl is considering cutting its $3.4 billion investment budget for this year due to declining oil prices, its chief executive said on Tuesday.

Somporn Vongvuthipornchai told reporters the company has already delayed investment in three foreign projects in Canada, Australia and Myanmar.

PTT, Thailand's top energy firm, is also keen to buy a stake in Bongkot offshore gas field from BG Group plc, Somporn added.

(Reporting by Khettiya Jittapong; Writing by Viparat Jantraprap; Editing by Amy Sawitta Lefevre and Miral Fahmy)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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