PTTEP Awarded Three Blocks in Recent Licensing Round
PTTEP has been awarded three concession areas in the recent 18th Petroleum Concession Bidding Round conducted by the Thailand Department of Mineral Resources.
Concession Block L22/43, an oil prone area of 3,632 square kilometers adjacent to S1 project covering areas of Pitsanulok and Pichit provinces, will be awarded to PTTEP at 25% participation interest. Thai Shell Co. Ltd., will be the operator. PTTEP and Thai Shell Co. Ltd. are finalizing details for PTTEP's additional 10% participation interest.
Concession Block G4/43, an oil and gas prone area of 9,686 square kilometers located in the Gulf of Thailand off the coast of Prachuab Khirikhan, will be awarded to PTTEP at 15% participation interest. Chevron Offshore (Thailand) Ltd. will be the operator. PTTEP's participation will be subject to declaration of commercial petroleum discovery and approval from Ministry of Industry. PTTEP and Chevron are also finalizing details for PTTEP's additional 15% early participation interest.
In addition, as a state-owned enterprise, PTTEP expects to be awarded the whole concession Block G9/43 in the Thailand-Cambodia overlapping area in the Gulf of Thailand, which is still pending boundary settlement. The area covers 2,619 square kilometers and is located off the coast of Surat Thani province. The concession is gas and condensate prone.