Published on January 12, 2006
PTTEP unit finds crude oil,natural-gas deposits in Algeria
PTT Exploration and Production Plc announced yesterday that it had discovered natural gas and crude oil deposits at an onshore field in Algeria.
PTTEP said its unit, PTTEP Algeria Co, has discovered oil and gas at blocks 433a and 416b in the Bir Seba field. PTTEP Algeria owns a 35-per-cent stake in the blocks. PetroVietnam Investment and Development Co holds 40 per cent and Algeria’s national oil company, Sonatrach, the remaining 25 per cent. The discovery is expected to yield a daily maximum flow of 5,100 barrels of crude oil and 4.8 million cubic feet of natural gas. – The Nation. ----------------------------------------------------------- THAI airways: Code-share agreement with Gulf National carrier Thai Airways International yesterday signed a code-sharing agreement with Bahrain-based Gulf Air. The pact covers flights from Bangkok to Bahrain and Muscat, the capital of Oman, and allows Gulf Air to code share on Thai flights from Bangkok to Phuket and Chiang Mai. Gulf Air operates daily Bahrain-Bangkok flights and four flights from the Thai capital to Muscat. The Middle Eastern airline is owned by Bahrain, Oman, and Abu Dhabi in the United Arab Emirates. In a separate development, the Finance Ministry said it would issue euro commercial paper worth US$141 million (Bt5.6 billion) for THAI to borrow to refinance its Samurai bond that is due in March. – Agence France-Presse, The Nation. ----------------------------------------------------------- New name: TOCC now Aditya Birla Chemicals Aditya Birla Chemicals (Thailand) Ltd became the new name of Thai Organic Chemicals Co Ltd (TOCC) on January 1. In addition to local sales, the company exports about 35 per cent of its output to 44 countries. The chemical business is carried out through five legal entities: Thai Organic Chemicals (TOCC), Thai Epoxy and Allied Products, Thai Sulphites and Chemicals, Thai Polyphosphate and Chemicals and Thai Peroxide. During 2005, the group merged all these companies (except Thai Peroxide Company Ltd, a joint venture with FMC Corp, US) into TOCC. – The Nation. ----------------------------------------------------------- OTOP: Tesco Lotus sales reach Bt200m More than Bt12 million was taken by vendors of One Tambon One Product crafts in the 10-day fair held from December 16-25, bringing cumulative Otop sales through Tesco Lotus outlets to Bt200 million. Tesco Lotus chairman Sunthorn Arunanondchai said it was a win-win situation for both customers and Otop vendors and an example of how Tesco Lotus supports local communities. He added that the company would continue its support of Otop fairs this year and expected to hold 12 nationwide in the first quarter. – The Nation.
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