PTTEP's net profit jumps 26%

PTT Exploration and Production Plc posted the consolidated net profit of US$1.846 billion (approximately Bt57.3 billion), an increase of $378 million or 26 per cent from $1.468 billion in 2011.

Revenue reached $7.021 billion (equivalent to Bt218 billion), up by 24 per cent on year from $5.685 billion (Bt173.375 billion).

Average sale price in the year increased from $55.49 to $64.86 per barrel of oil equivalent. Sales volume also went up to 275,923 barrel of oil equivalent per day (BOED) compared with 265,047 BOED in 2011. Contributing to the increased sales were petroleum products from Bongkot South field, the Vietnam 16-1 Project, and S1 Project.