PTTEP Outlines Five Year Investment Plan

PTT Exploration and Production Public Company Limited (PTTEP) says its estimated capital expenditure and operating expenditure for the company and its subsidiaries for the five-year period from 2006 to 2010 will be approximately Baht 230,600 million. The expenditures have been revised to incorporate the latest work programs. At present, the Company has a total of 29 projects, consisting of the following three types of projects:

1. Projects that are under production, namely, major projects such as Bongkot, S1, B8/32 & 9A, and Pailin.

2. Projects that are under development and will start production in the future, namely, major projects such as Arthit and MTJDA.

3. Projects that are under exploration, namely, major projects such as Myanmar M7 & M9 project, Algeria 433a & 416b project, Vietnam 16-1 project and Vietnam 9-2 project.

Plan for the year 2006
PTTEP's 2006 expenditure plans for existing projects are as follows:

1. Major Projects that are under production

1.1 Bongkot Project (PTTEP's share 44.44%)
Total expected average natural gas sales amount is 598 million standard cubic feet per day (MMSCFD). The Capital Expenditure is mainly for the construction of 6 additional wellhead platforms, the drilling of 8 development wells, the drilling of 3 exploration wells and 3D seismic surveys in the North Bongkot area and the South Bongkot area, the latter of which is a new production area.
1.2 S1 Project (PTTEP's share 100%)
Total expected average crude oil sales amount is 19,265 barrels per day. The Capital Expenditure is mainly for the drilling of 35 development wells and upgrading and construction of production facilities.

1.3 B8/32 & 9A (PTTEP's share 25%)
Total expected average crude oil sales amount is 53,000 barrel per day. The Capital Expenditure is mainly for the construction of 5 wellhead platforms, the drilling of 103 development wells, and the drilling of 2 exploration wells.

1.4 Pailin Project (PTTEP's share 45%)
Total expected average natural gas sales amount is 376 MMSCFD. The Capital Expenditure is mainly for the drilling of 64 development wells, the construction of a wellhead platform, and the layout of pipelines.

2. Major Projects that are under development and will start production in the future

2.1 Arthit Project (PTTEP's share 80%)
The current plan for the Arthit Project is to start up gas production in the first half of 2007. Total expected initial production rate will be at 330 MMSCFD. The Capital Expenditure is mainly for the construction of a production platform, 6 wellhead platforms, and the drilling of 44 development wells.

2.2 MTJDA Project (PTTEP's share 50%)
The current plan for the MTJDA Project is to start up gas production in the second half of 2008. Total expected initial production rate will be at 270 MMSCFD, with an option of up to 470 MMSCFD. The Capital Expenditure is mainly for the drilling of 4 exploration wells, the drilling of 3 appraisal wells and the preparation of production facilities.

3. Major Projects that are under exploration

3.1 Myanmar M7 & M9 Project (PTTEP's share 100%)
The Capital Expenditure is mainly for the drilling of 6 exploration wells, geological and geophysical studies, and 3D seismic surveys in order to establish the potential natural gas reserves and achieve a development plan.

3.2 Algeria 433a & 416b Project (PTTEP's share 35 %)
The Capital Expenditure is mainly for the 3D seismic surveys and the drilling of 2 appraisal wells to complete the initial exploration commitment, and then to enter into the second exploration phase.

3.3 Vietnam 16-1 Project (PTTEP's share 28.5 %)
The Capital Expenditure is mainly for the drilling of 2 exploration wells, the drilling of an appraisal well and 3D seismic surveys in order to establish the potential oil reserve and then enter into the development phase.

3.4 Vietnam 9-2 Project (PTTEP's share 25%)
The Capital Expenditure is mainly for the sidetrack drilling of the appraisal well, CNV-4X, and the geological and geophysical studies in order to establish the potential oil reserves and then enter into development phase.

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