PTTEP Leases FPSO for Arthit Project

PTT Exploration and Production Public Company Limited will start up production at the Arthit Project at 330 million standard cubic feet per day (mmscfd) in the first quarter of 2008. Due to the rising demand in natural gas, PTTEP has agreed in principle with PTT Public Company Limited (PTT) to increment the production rate of Arthit Project.

PTTEP has leased a Floating Production Storage and Offloading vessel (FPSO) in order to accelerate the additional gas supply from Arthit project to an average of 120 - 150 MMSCFD for a minimum of 3 years starting from the first quarter of 2008. The company is now in discussion with PTT on the terms and conditions of this transaction.