PTTEP, in its endeavor to strengthen its foreign investment profile, won the petroleum exploration rights for Block Semai-II, adding them to the investment profiles in Indonesia.
Anon Sirisaengtaksin, the CEO of PTT Exploration and Production Public Company Limited or PTTEP said that the company acquired the rights through the Indonesia Petroleum Bidding Round 2007. PTTEP joined hands with its partners in participating in the bidding process.
Block Semai II covers an area of 3,379 square kilometers. It is situated offshore southwest of West Papua, Indonesia. PTTEP holds 33.33% share in this block while Murphy Oil Corporation, the operator, holds 33.33% share and INPEX Corporation of Japan holds another 33.33% share. During the first 3 years, the partners will conduct 3D seismic survey and drill 3 exploration wells. Semai-II Block is the third petroleum block that PTTEP has in Indonesia. The other two are Blocks Merangin-1 and Bangara-1.
PTTEP's investment in Southeast Asia and Australia as well as its cooperation with partners in making new investments are part of PTTEP's strategic plan to seek opportunities in target countries which have high petroleum potential. The aims are to ensure growth and to ensure energy security for Thailand in the long term.
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