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PTTEP wins bid for 2 blocks offshore Thailand

PTT Exploration and Production Public Co. Ltd., or PTTEP, announced Dec. 13 that it has won the bids for the expiring Bongkot and Erawan concessions located in the Gulf of Thailand.

Under the proposed development and investment plan, the company will produce at least 700 million cubic feet per day of natural gas at the Bangkot gas field which it currently operates, and 800 MMcf/d of natural gas from the Erawan field, according to PTTEP CEO Phongsthorn Thavisin.

The exploration and production company will continue operating the Bongkot gas field and will operate the Erawan field starting in 2022. Thavisin said he expects support from Erawan field's existing operator, the Department of Mineral Fuels and other government agencies to start the required activities immediately to ensure the continuity of the gas supply.

PTTEP bid solely on the Bongkot field, where it holds a 60% stake, and partnered with Mubadala Petroleum Thailand Ltd on the Erawan block where it holds a 40% stake.

The two gas fields are considered the vital sources of energy supply to Thailand with a natural gas production that accounts for 60% of total domestic outputs.