PTTEP budget prioritizes offshore Thailand, Myanmar production

Offshore staff

BANGKOK, Thailand – PTT Exploration and Production Public Co. (PTTEP) has budgeted $2.09 billion for capex and $1.353 billion for opex in 2016.

Fields in Thailand account for 55% of the total, with the focus to maintain production levels at the Arthit, S1, Bongkott, Contract 4, and the MTJDA projects.

Projects in Southeast Asia account for 27% of the estimated capex, mainly on PTTEP’s offshore Myanmar assets. Priorities include maintaining production levels from the Zawtika, Yadana, and Yetagun facilities and evaluating development options for the Myanmar M3 project.

Elsewhere, the company’s main development activities next year include the Mozambique Rovuma Offshore Area 1 project and exploration in the Brazil BM-ES-23 concession.

12/21/2015

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