• 5 minutes 'No - Deal Brexit' vs 'Operation Fear' Globalist Pushback ... Impact to World Economies and Oil
  • 8 minutes China has *Already* Lost the Trade War. Meantime, the U.S. Might Sanction China’s Largest Oil Company
  • 12 minutes Will Uncle Sam Step Up and Cut Production
  • 1 hour China has invested btw $30 - $40 Billon in Canadian Oil Sands. Trump should put 10% tariffs on all Chinese oil exported into or thru U.S. in which Chinese companies have invested .
  • 7 hours It's Not the Job of the Government to Dictate Where Businesses Should Go
  • 43 mins US Shale Economic Impact: GDP gain realized in shale boom’s first 10 years
  • 7 hours Offshore subsea sub 50$/bbl : Rystad Energy: High stakes in store for subsea markets if oil falls to $50/bbl
  • 5 hours Tit For Tat: China Strikes Back In Trade Dispute With U.S. With New Tariffs
  • 4 hours Philadelphia Energy Solutions seeks to permanently shut oil refinery - sources
  • 32 mins Recession Jitters Are Rising. Is There Reason To Worry?
  • 41 mins Wonders of US Shale: US Shale Benefits: The U.S. leads global petroleum and natural gas production with record growth in 2018
  • 1 hour Iran Is Winning Big In The Middle East
  • 1 day Trump vs. Xi Trade Battle, Running Commentary from Conservative Tree House
  • 1 day Strong, the Strongest: Audi To Join Mercedes, BMW Development Alliance
  • 38 mins TRUMP'S FORMER 'CHRISTIAN LIAISON' SAYS DEEPWATER HORIZON DISASTER WAS GOD'S PUNISHMENT FOR OBAMA ISRAEL DIVISION
  • 5 mins Danish Royal Palace ‘Surprised’ By Trump Canceling Trip
Zainab Calcuttawala

Zainab Calcuttawala

Zainab Calcuttawala is an American journalist based in Morocco. She completed her undergraduate coursework at the University of Texas at Austin (Hook’em) and reports on…

More Info

Thailand Expands Oil Exploration Options To Attract Investments

Thailand

Oil and gas firms active in Thailand will see their oil exploration options expand after the country’s military-appointed assembly approved a change to its energy laws on Thursday.

Current laws mandate a monetary concession to Thai authorities to drill in local oil fields, but the amendment will allow companies to opt out of production sharing agreements (PSAs).

The Erawan gas concession, currently in Chevron’s hands, and the Bangkot gas concession, which is in the control of government-run PTTEP Exploration and Production PCL, will both expire within the next six years.

The new measures are designed to make multinational energy companies an exciting investment opportunity before the two fields re-enter the market, according to Markets Insider.

The assembly also struck down a clause that would have led to the establishment of one national oil company. PTT Pcl, the energy company in which the Thai government is a majority shareholder, is the largest shareholder of PTTEP, but private investors have maintained control of the firm.

Members of the military-backed parliament ordered the setup of a new committee that would investigate potential models for a state-run energy company. The cabinet has 60 days to oblige to create the group and one year to complete the study.

Related: Asia’s Top LNG Players Forming Buyers Club

PTT said earlier this month that it sought investment opportunities for the $11 billion in cash and marketable securities it holds in order to make up for a decline in proven domestic oil and gas reserves to 695 million barrels in 2016. These reserves will only last for five years at current rates of production, according to analysts, which makes the situation close to critical.

Besides oil, PTT will also be looking for expansion opportunities in liquefied natural gas as demand in Thailand grows: Research and Markets has estimated that this demand is set for a compound annual growth rate of 7.2 percent for the period 2016 to 2025

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play