PTT Exploration and Production Plc (PTTEP) plans to increase petroleum production from gas fields in the Gulf of Thailand in the next two years to reduce liquefied natural gas imports.
According to Orachon Ouiyamapun, senior vice-president for financial affairs at PTTEP, the company plans to raise its production from the Erawan and Bongkot gas fields to 1,500 metric million standard cubic feet per day (MMSCFD) in the next two years.
PTTEP stated that it can now increase Erawan gas production to 376 MMSCFD, up from 200 a few months earlier, and intends to increase the volume to 800 MMSCFD within the next 24 months. In addition, the company intends to increase gas production from Bongkot to 700 MMSCFD by 2023.
PTTEP’s petroleum sales in the first quarter of this year stood at 427-kilo barrels of oil equivalent per day (KBOED). The company predicts an increase in average petroleum sales from 416 KBOED in 2021 to 467 KBOED in 2022. (NNT)