Published On: Wed, Dec 14th, 2011

Thailand seeks Myanmar petroleum exploration rights

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– Thailand plans talks with Myanmar to seek more concessions for petroleum exploration for its top energy firm PTT Pcl, Thai Energy Minister Pichai Naripthanphan said on Wednesday, ahead of a Dec. 18-20 visit to the neighbouring nation.

State-controlled PTT group has expressed interest in investing in three petroleum blocks, one onshore and two offshore MD7 and MD8, in Myanmar, the minister told reporters on the sidelines of an industry event.

“PTT group is keen to invest in the three blocks and we want the Myanmar government to consider this, which should benefit both countries,” he said.

PTT’s subsidiary, PTT Exploration and Production Pcl , has said it wanted to join bids for 2-3 blocks of the total 18 to be opened by Myanmar government.

PTTEP, a flagship in the upstream petroleum exploration business of PTT, has about 40 oil and gas exploration and development projects. It has four projects in Myanmar and is a minority partner in the Yetagun and Yadana gas developments.

Myanmar natural gas accounts for about 30 percent of Thailand’s consumption, mostly in power generation.

($1=31.30 Baht)

(Reporting by Khettiya Jittapong;Editing by Clarence Fernandez)

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