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PTTEP

Thailand’s Department of Mineral Fuels (DMF) has awarded state oil company PTTEP production-sharing contracts for both the offshore G1/61 (Erawan) and G2/61 (Bongkot) projects. PTTEP will replace Chevron as operator of the former in 2022. This development follows an international auction for long-term renewals of the production-sharing contracts for the giant offshore gas fields. The state-owned company won bidding for new concessions covering both fields. The current Bongkot license will expire in 2023. PTTEP bid with 40% partner Mubadala Petroleum for the Erawan license and alone for the Bongkot license. Chevron, with Mitsui Oil Exploration, submitted bids for both licenses. PTTEP has proposed investment plans aimed at committed production of at least 700 MMscf/D from Bongkot and 800 MMscf/D from Erawan.


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