Chevron Signs Two Concessions in the Gulf of Thailand

Chevron has signed two offshore petroleum exploration concessions with the Department of Mineral Fuels in a ceremony presided over by Thai Energy Minister Viset Choopiban.

Block G4/48 is located in the Gulf of Thailand and covers 504 square kilometers close to Chevron's Tantawan and Plamuk fields, where the company has petroleum production activities. It is wholly owned and operated by Chevron.

Block G9/48 covers 252 square kilometers and lies northeast of Arthit Field in the Gulf of Thailand. Under the petroleum exploration concession agreement, Bangkok-based PTT Exploration and Production (PTTEP) is the operator and holds an 84-percent interest in the block. Chevron holds the remaining 16-percent interest.

"Chevron is very pleased to join with PTTEP as a strategic partner in this venture," said Tara Tiradnakorn, president of Chevron Thailand Exploration and Production. "By sharing our facilities, combining our extensive business experiences, and investing our human capital in these projects, it will enable the development of marginal fields in these prospective areas."

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