IN BRIEF:
PTT in Bt44-bn capacity boost
PTT Chemical Plc, the country's largest petrochemical firm by capacity, said yesterday that it planned to invest about Bt44 billion between 2006 and 2010, mainly to boost production capacity.
"The majority of the investment will be geared towards capacity expansion. We currently produce 1.5 million tonnes of olefins annually, and expect capacity to increase to 1.86 million in 2008," said Aditheb Bisalbutr, the firm's president. The investment will mostly be financed internally, he said. PTT Chemical was formed late last year after a merger between National Petrochemical Plc and Thai Olefins Plc. Chevron signs two concessions Chevron Thailand Exploration and Production Ltd (CTEP) yesterday announced that it had signed two petroleum exploration concessions with the Mineral Fuels Department for blocks G4/48 and G9/48 in the Gulf of Thailand. Block G4/48 covers 504 square kilometres close to Chevron's Tantawan and Plamuk fields and is wholly owned and operated by Chevron Pattani Ltd, an affiliate of CTEP. Block G9/48 covers a 252 sq-km area northeast of the Arthit Field. Under the agreement, PTTEP (Thailand) Ltd will be the operator and hold 84 per cent in Block G9/48, while Chevron Pattani will hold the remaining 16 per cent. "Chevron is very pleased to join with PTTEP as a strategic partner in this venture. By sharing our facilities, combining our extensive business experience, and investing our human capital in these projects, it will enable the development of marginal fields in these prospective areas," said Tara Tiradnakorn, president of CTEP.
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