PTTEP expands business in Indonesia

By The Nation

PTT Exploration and Production Plc (PTTEP) Plc together with Murphy Oil Corp (MURPHY) and INPEX Corp (INPEX) have won the bid for the exploration in Block Semai II.

PTTEP's subsidiary, PTTEP Semai II Ltd, today signed the production sharing contract with the joint ventures. The three would hold an equal stake of 33.33 per cent each.

Put on the Indonesia Petroleum Bidding Round 2007, the offshore block Semai II covers an area of 3,379 square kilometres, southwest of West Papua, Indonesia. A primary geological study for block Semai II indicates natural gas potential.

Currently, PTTEP operates 2 exploration projects in Indonesia which are

Merangin-1 and Bengara-1.

"The participation in this high potential area in

Indonesia signifies another major step for the company in achieving future

target growth," CEO Anon Sirisaengtaksin said in a filing to the Stock Exchange of Thailand.

{literal}

{/literal}

{literal} {/literal}

PTTEP expands business in Indonesia

PTT Exploration and Production Plc (PTTEP) Plc together with Murphy Oil Corp (MURPHY) and INPEX Corp (INPEX) have won the bid for the exploration in Block Semai II.

OTHER BUSINESS

Top Stories