PTTEP wins concession for two Myanmar oil fields

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BANGKOK, Dec 21 – PTT Exploration and Production Plc, (PTTEP) has won its bids for two onshore oil blocks in Myanmar, Thai Energy Minister Pichai Naripthaphan said Wednesday after he met his Myanmar counterpart U Than Htay on Tuesday.

Mr Pichai accompanied Thai Prime Minister Yingluck Shinawatra to Myanmar as she attended the regional summit in Naypyidaw.

The Thai energy minister said his Myanmar counterpart informed him that PTTEP, subsidiary of PTT Plc, Thailand’s largest oil conglomerate, won its bid for two Myanmar onshore oil blocks. Myanmar also indicated support of the PTTEP proposal to seek petroleum in the Andaman Sea in two offshore petroleum blocks – MD7 and MD 8-  but more details must be considered and discussed.

Myanmar wanted to see Thai investment in a gas separation plant in Myanmar after the PTTEP’s exploration found wet gas in the M9 gas field, which will be ready for use in 2016. The M9 field is Myanmar’s first field of wet gas, suitable for petrochemical production, he said.

The PTT group is ready to invest more and Myanmar can also invest by granting Thailand further petroleum concession, the Thai minister said.

He invited Myanmar’s energy minister to visit Thailand’s petrochemical investment in the Map Ta Phut Industrial Estate in the eastern province of Rayong.

The invitation was welcomed by his Myanmar counterpart, who will attend the International Petroleum Technology Conference to be held in Thailand during Feb 7-9.