PTTEP Begins Production from Nang Nuan Project

PTTEP started oil production from Nang Nuan project at a rate of approximately 3,100 barrels per day from one production well. In 2006, the Company plans to drill two additional exploration and production wells to increase its crude oil reserves and increase production.

Crude oil production from the Nang Nuan project will help in satisfying the growing energy demand of the country, and will also help in reducing crude oil imports from abroad in order to reduce Thailand's expenditure in foreign currencies.

PTTEP is the Operator and holds a 100% interest in Nang Nuan Project (Block No. B6/27). The Nang Nuan project is located in the Gulf of Thailand, approximately 25 kilometers offshore from Chumphon province, covering an area of 1,306 square kilometers.