Thailand To Auction Petroleum Concessions Held By Chevron, PTTEP
BANGKOK, May 30 (Reuters) - Thailand's military government plans to put petroleum concessions held by Chevron Corp and PTT Exploration and Production Pcl up for auction, energy minister Anantaporn Kanjanarat said on Monday.
The auction for the petroleum contracts, which are due to expire in 2022-2023, is expected to be completed within one year from now, Anantaporn told reporters after a meeting with the country's energy policy makers. He gave no details on when the auction would start.
If there are no interested bidders, the government will negotiate extensions of the concessions with the existing holders, the minister said.
(Reporting by Pracha Hariraksapitak; Writing by Khettiya Jittapong; Editing by Tom Hogue)
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Tight Oil, Shale to Drive Majors' Output to New Highs (Oct 16)
- Saturno Brazil Pre-Salt Acreage Goes to Shell and Chevron (Sep 28)
- Canada Shale Drillers Feel Permian Pain as Prices Collapse (Sep 20)
Company: PTT Exploration & Production Company Plc (PTTEP) more info
- Thailand's PTTEP 1Q Profits Rise, Prepares For Gas Auctions (Apr 26)
- Thailand's PTTEP Seeks To Boost Reserves, Output In SE Asia (Mar 21)
- Thailand's PTTEP Delays Canadian Oil Sands Project At Cost Of $550MM (Oct 19)