Ptt Oil Spill Off Australian Coast.

[asiancup2007]

A PTT operated oil rig operating off the Western Australian coast is leaking oil at the moment.

Quite big news in Australia but a google news search reveals no Thai news reports at all.

So what? Well another rig is needed to come from Singapore to plug the leak and it's estimated

that the cost for the entire operation could cost from $10 million to $50 million US dollars and could reduce the company's profit by as much as 6 percent in 2009. It costs over $250,000 just to lease the current rig per day so its likely to be at the top end of the range or beyond.

I thought that would be of some news value in Thailand mind you it did happen on Friday and its only been 4 days. No announcements posted at the Stock exchange website or on PTT's website either. The last was on the 21st concerning dividends the oil spill and associated costs has yet to rate a mention.

Amazing, Thailand.

[Moonrakers]

A link would be helpful.......

[asiancup2007]

Just type PTT into google and press "news"

I got 683 news articles from around the world

yet none from Thailand.

http://www.bloomberg.com/apps/news?pid=206...id=awt1egBoCsL0

[Moonrakers]

OK, well...and so.....

It didn't happen in Thailand and so not problem Thailand......... Problem Australia........

[Carib]

So ??

[asiancup2007]

So?

PTT is a public listed company. Would you want to invest in a company that doesn't see fit to provide

such information to the market? Would you want to invest in a country where the stock exchange hasn't

ensured said company provide this information?, where the media hasn't bothered to report this information?

Problem Australia? Yes but Problem for PTT as they will paying.

Edited August 24, 2009 by asiancup2007

[Carib]

Far fetched, and it has got absolutely nothing to do with Thailand. Lots of things happen around the world which either don't show up in newspapers or late. Big deal.

[Moonrakers]

Far fetched, and it has got absolutely nothing to do with Thailand. Lots of things happen around the world which either don't show up in newspapers or late. Big deal.

I think you'd best think about reading thread's properly before jumping to such assumptions. Nothing to do with Thailand? Well PTT is a Thaio owned company is it not??? Far fetched, well this event just happened did it not???

etc etc..

[asiancup2007]

Far fetched, and it has got absolutely nothing to do with Thailand. Lots of things happen around the world which either don't show up in newspapers or late. Big deal.

I have read some bizarre things on this forum but that is right up there.

So PTT has nothing to do with Thailand. I stand corrected.

Far fetched: unlikely to be true you mean. So it didn't actually happen, you've put my mind at rest.

The Australian media made this non Thai related story up to smear Thailand I guess and like a idiot

I fell for it along with media around the world. Thanks for setting me straight.

[Carib]

Far fetched, and it has got absolutely nothing to do with Thailand. Lots of things happen around the world which either don't show up in newspapers or late. Big deal.

I have read some bizarre things on this forum but that is right up there.

So PTT has nothing to do with Thailand. I stand corrected.

Far fetched: unlikely to be true you mean. So it didn't actually happen, you've put my mind at rest.

The Australian media made this non Thai related story up to smear Thailand I guess and like a idiot

I fell for it along with media around the world. Thanks for setting me straight.

Bizarre, yes, the original post is. Something is not in the local newspapers and you make a big deal out of it.

[asiancup2007]

Of course you are correct. I apologise for the hysterics in my original post

The financial and environmental damage of this far fetched

story if it were to be true are minimal to the point of insignificance

and are not related to Thailand in any way.

[mahtin]

BANGKOK, Aug 21 (Reuters) - Thailand's PTT Exploration and Production (PTTEP) (PTTE.BK) on Friday reported oil and gas spills at a drilling well in the Australian Montara field, which had forced it to evacuate 69 staff from the area.

About 40 barrels of crude oil were leaked, along with an unspecified amount of condensate and natural gas from Montara, one of three oil and gas fields that the company is involved with in the southern Timor Sea, it said in a statement.

Chief Executive Anon Sirisaengtaksin told Reuters it would take time for the company to assess the situation and decide whether it would start commercial operations in November 2009 as planned.

"There is no environmental impact. We have measures to prevent that, and we will take specialists to look after it," he added.

++++++++++++++

Seems like they did speak to Reuters.

[thaihome]

This was in yesterday's Post:

Australian oil spill clean-up to take '7 weeks'

Writer: AFP

Published: 24/08/2009 at 02:00 PM A major oil spill at a drilling rig off Australia's northwest coast will take at least seven weeks to contain, authorities said Monday.

And then this today.

Leak may cost PTTEP 6% profit drop

Expenses covered but output may be delayed

Writer: YUTHANA PRAIWAN

Published: 25/08/2009 at 12:00 AM

Newspaper section: Business

Profit at the only publicly traded Thai petroleum exploration firm may fall by 6% this year as a result of an oil-rig leak in Timor, but the overall impact should be minimal, according to stock analysts.

PTTEP

Does the OP watch any Thai TV news? It's been reported there this past weekend.

Now tell me again about TIT?

TH

[Heng]

Sucks for the wildlife in the area, but financially speaking it's not exactly like an airline having a major crash or several incidents even, completely different fundamentals, especially when they basically have a monopoly here.

[asiancup2007]

BANGKOK, Aug 21 (Reuters) - Thailand's PTT Exploration and Production (PTTEP) (PTTE.BK) on Friday reported oil and gas spills at a drilling well in the Australian Montara field, which had forced it to evacuate 69 staff from the area.

About 40 barrels of crude oil were leaked, along with an unspecified amount of condensate and natural gas from Montara, one of three oil and gas fields that the company is involved with in the southern Timor Sea, it said in a statement.

Chief Executive Anon Sirisaengtaksin told Reuters it would take time for the company to assess the situation and decide whether it would start commercial operations in November 2009 as planned.

"There is no environmental impact. We have measures to prevent that, and we will take specialists to look after it," he added.

++++++++++++++

Seems like they did speak to Reuters.

Yes it does.

But Seems to me Reuters contacted them and they confirmed the story.

Did they announce it to the stock exchange?

Did the Thai media pick it up?

"There is no environmental impact. We have measures to prevent that, and we will take specialists to look after it," he added.

This comment needs some scrutiny.

[asiancup2007]

This was in yesterday's Post:

Australian oil spill clean-up to take '7 weeks'

Writer: AFP

Published: 24/08/2009 at 02:00 PM A major oil spill at a drilling rig off Australia's northwest coast will take at least seven weeks to contain, authorities said Monday.

And then this today.

Leak may cost PTTEP 6% profit drop

Expenses covered but output may be delayed

Writer: YUTHANA PRAIWAN

Published: 25/08/2009 at 12:00 AM

Newspaper section: Business

Profit at the only publicly traded Thai petroleum exploration firm may fall by 6% this year as a result of an oil-rig leak in Timor, but the overall impact should be minimal, according to stock analysts.

PTTEP

Does the OP watch any Thai TV news? It's been reported there this past weekend.

Now tell me again about TIT?

TH

No I don't watch Thai TV news that's why I asked if it was being reported. I can't comment on those but the print media's response has been pathetic, the accident happened on the 21st.

Still no stock exchange announcements, yes amazing.

[soundman]

Well, it is not scaring the investors PTT shares trading at 243B. down 1B (0.41%) at 12.27.

[QED]

PTTEP is a separate listed company to PTT. The West Atlas is a Mobile Offshore Drilling Unit, operated by Seadrill. It is under contract to PTTEP Australasia (Ashmore Cartier) Pty Ltd., which is a subsiduary of PTTEP.

By the time you get down to the operator it is so far removed from it's Thai parent company is probably the reason it's not big news here.

I would imagine the 6% profit drop would be in PTTEP Australasia, which would have minimal impact on PTTEP as one of the top 10 SET stocks. I don't believe there is a requirement for a stockmarket announcement that a contractor of one of it's overseas subsiduaries has had an minor incident thousands of miles away.

[soundman]

PTTEP 143B Up 1B (+0.7%) at Interval.

[thaihome]

No I don't watch Thai TV news that's why I asked if it was being reported. I can't comment on those but the print media's response has been pathetic, the accident happened on the 21st.

Still no stock exchange announcements, yes amazing.

I did happen to notice this item on the PTTEP website dated the 21st. There is another dated today.

PTTEP report on crude oil and gas leak incident in Australia

21 Aug 09

Today (August 21, 2009) PTTEP Australasia confirms that a crude oil and gas leak incident occurred at 0530 (Darwin time) in the Montara development in the Timor Sea approx. 690 km west of Darwin in the Northern Territory and 250 km northwest of Truscott in Western Australia. The company has activated its emergency management procedures and authorities have been notified

....

Can you show me an example of what you are expecting from the Stock Exchange? Do you think they should have suspended trading or something?

Note that PTT owns 65% of PTTPE and it is a seperatly listed company, which is probably why you did not find anything on the PTT website.

Your whole premise that this is being handled differently then anywhere else in the world is false. Your true agenda is out there for everyone to see.

TH

[j_mack]

So ??

From the Deep South of Darwin to the rest of the Would, its in the news every day! from one who works in the offshore Industry in the West its BIG S$it in Australian waters, my ARRSE would be kicked to the end of earth if i had an anything to do with it , lol.

[asiancup2007]

minor incident thousands of miles away......................................................

[sbk]

Apparently, the rig is now the location of an out of control fire and there are fears if the fire is not controlled, it could collapse.

Fire crews battle Timor rig blaze

The rig caught fire following several failed attempts to plug the undersea leak with mud (Reuters)

Specialist firefighters have been called in to battle a massive fire that has broken out on a leaking oil rig in the Timor Sea.

The blaze broke out on Sunday as workers on the West Atlas rig were attempting to plug the leak that has been spewing oil into the sea for more than two months.

Nobody was injured in the fire and the Thai company which operates the platform, PTTEP, said all its staff had been safely evacuated from the platform situated 200km off the northwest Australian coast

continued here

[Jai Dee]

PTTEP ‘Under Pressure’ as Fire Burns at Timor Sea Rig

Thailand’s PTT Exploration & Production Pcl is “under a lot of pressure” as a fire burns on a stricken drilling rig that has been leaking oil for 10 weeks in the Timor Sea, the Australian government said.

“The government remains deeply concerned,” Australia’s Minister for Resources and Energy Martin Ferguson told ABC Radio today. “It’s clearly had an impact on the standing of the oil and gas industry in Australia.”

Pictures from Australian television networks show the rig engulfed by a raging inferno, with flames leaping meters in the air. Thailand’s only publicly traded oil-exploration company was pumping mud from its West Triton rig into the leaking Montara well via a separate shaft when the blaze started at the West Atlas drilling rig and well-head platform, PTTEP said yesterday.

More from Bloomberg's website here.

[sorensen]

[sbk]

Fire contained and leak stopped according to PTTEP

Blaze at leaking Australian oil rig 'contained'

(AFP) – 16 hours ago

SYDNEY — A blaze at an oil rig off Australia was brought under control on Tuesday when experts managed to plug a leak that has spewed tonnes of crude over the past 10 weeks, the well's operator said.

PTTEP Australasia said its fifth attempt to plug the leak had been successful and it had stopped the main fire at the wellhead platform.

"The fire at the West Atlas rig at Montara wellhead platform has been put out after heavy mud had been successfully injected into the leaking well," the company said in a statement.

continued here: AFP

[freddy123]

The leakings been stopped. Why the Australian goverment let Thai companies operate in our waters is rediculas. The 'engineer' that probably designed the structure probably graduated from some Thai uni with a degree equivalent to a year 10 school certificate in Australia. They better start cleaning it up and if needed compensating the fishing and other comunities affected.

http://www.smh.com.au/environment/oil-leak...91103-hv9e.html

[jayjayjayjay]

The leakings been stopped. Why the Australian goverment let Thai companies operate in our waters is rediculas. The 'engineer' that probably designed the structure probably graduated from some Thai uni with a degree equivalent to a year 10 school certificate in Australia. They better start cleaning it up and if needed compensating the fishing and other comunities affected.

http://www.smh.com.au/environment/oil-leak...91103-hv9e.html

Personally I see your statement as ignorant.

I am Australian also. I have run a number of companies in Thailand, both local and westerner owned. To ask why the Australian government let's Thai companies operate in Australian waters and your assumption the West Atlus rig was exclusively Thai designed is purely idiotic, probably much like the author. Nothing could be further from the truth, so before you ramble rubbish again take a look at the facts, a couple I have provided you here with 2 minutes research.

• The West Atlas platform is a drilling rig.
  
• It was built by Keppel FELS in Singapore. The Group, a wholly-owned subsidiary of Keppel Corporation, was established in 2002 and is headquartered in Singapore. Its strategic network of 20 yards serving regions including Asia Pacific, Gulf of Mexico, Brazil, Caspian Sea, Middle East and the North Sea, enables the effective execution of the Group’s Near Market, Near Customer strategy.
  
• Seadrill of Norway operate the rig!!!!!!!!!!!!!!!!!!!
  
• The Montara platform was built in 2008, and was installed in mid-2009 by Perth, Australia-based engineering company Clough by Australian engineers!
  
  

I run companies because of my skill sets, fluent in Thai, western in nature. I don't know the workforce breakdown on the rig, but I can guarantee you there were numerous Australian's working there, and there Health and Safety Officers and a bunch of engineers and operations staff are Australian.....

[PhilHarries]

Thanks for posting that jay⁴ I was just priming the big guns getting ready to deliver a full broadside and you've saved me the ordnance.

Some people should stick to things they know about like navel lint.

[jayjayjayjay]

Thanks for posting that jay⁴ I was just priming the big guns getting ready to deliver a full broadside and you've saved me the ordnance.

Some people should stick to things they know about like navel lint.

I guess if we could see the face of some posters we would immedietely assume why there responses reveal the intellect of grade 7 students. Unless freddy123 doesn't understand I am referring to him, that makes him 3 years dimmer than the engineers whom he assumed designed the rig......