Jump to content
BANGKOK

Archived

This topic is now archived and is closed to further replies.

NanLaew

Thai petroleum concession auction faces more delays

Recommended Posts

BANGKOK, Nov 28 (Reuters) - Thailand's military government will complete an auction in 2018 for expiring oil and gas contracts held by Chevron Corp and PTT Exploration and Production, the country's energy minister said on Monday.

 

Earlier, the government said it planned to open bids for the contracts in March 2017 and that the auction would be completed by September 2017. ...

 

More here.

Share this post


Link to post
Share on other sites

Rumour has it ones of these companies doesnt intend rebidding on some of the existing contracts and will in fact begin a stratigic withdrawal from Thai offshore oil and gas 

Share this post


Link to post
Share on other sites

In the same way as the majors relinquished their interests due to declining output in the UK North Sea, the traditional cash-cow fields in the GoT are no longer sustainable for them. In more vibrant times, the smaller, more agile E&P companies would step in and wring out profits from these dwindling reserves. However, when it comes to Thailand, there was never a lot of these minnows going about, even when the industry was healthier. Unlike Vietnam, there's never really been an attractive enough package to draw investment in exploring for hydrocarbons here. Having said that, there's usually between 2 or 3 seismic studies onshore and offshore each year but nothing really significant since maybe 2011/12. 

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...