Thailand delays auction of new Erawan, Bongkot gas field licences

[webfact]

Thailand delays auction of new Erawan, Bongkot gas field licences

Reuters Staff

 

BANGKOK, (Reuters) - Thailand will delay an auction of new operating concessions for the Erawan and Bongkot offshore gas fields by two months to November, General Anantaporn Kanjanarat, Energy Minister said on Thursday.

 

“Currently, we expect there to be one to two companies interested in investing in concessions,” Anantaporn told reporters. “The Council of State is considering the terms of the auction before it is sent to the Cabinet for approval. The auction should take place in November and winning bids in April 2018,” Anantaporn said.

 

Chevron Corp operates the Erawan field and state-owned PTT Exploration and Production operates the Bongot field under licences which are set to expire in 2022 and 2023 respectively.

 

Earlier this year the energy ministry said that the terms would be announced in July or August and winners announced in Feburary 2018.

 

The areas have combined output of 2.2 billion cubic feet a day, about 76 percent of output from the Gulf of Thailand.

 

(Reporting by Chayut Setboonsarng; Editing by Greg Mahlich)

 

-- © Copyright Reuters 2017-09-15

 

[Lucky mike]

Sounds more like a tender than an auction ?