PTTEP Confirms Fire Extinguished on West Atlas

West Atlas
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PTTEP Australasia (PTTEP AA), a subsidiary of PTT Exploration and Production Public Company Limited (PTTEP), reported on November 3, 2009 that the fire at the West Atlas rig at Montara wellhead platform has been put out after heavy mud had been successfully injected into the leaking well. The company is closely monitoring the situation and its experts are ready to assess the damages and to make plans for future work.

The company has insurance coverage of US $270 million. It will soon start working to claim the damages which will be booked as income in the next quarter.

Future production plans for this rig will be considered after the experts had assessed the damages.

PTTEP CEO Mr. Anon Sirisaengtaksin said that PTTEP AA received good assistance from the Australian Government during the oil leak and the fire at the rig and would like to express his sincere thanks. PTTEP AA has worked closely with the Australian the Australian Maritime Safety Authority or AMSA and agencies concerned to control the oil slick. The company also cooperated with Australian environment agencies and experts to monitor the environment in the Timor Sea both in the short team and the long term.

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