Thai Govt Plans To Award 22 New Petroleum Concessions In 2006

[Jai Dee]

Thai Govt Plans to Award 22 New Petroleum Concessions in 2006

BANGKOK, Nov 13, 2006 (Dow Jones Newswires) - Thai Energy Minister Piyasvasti Amranand said Monday that the government plans to award up to 22 new petroleum concessions by the year-end.

In the latest bidding round between August 2005 and June 2006, 19 firms have submitted bids for 25 petroleum blocks comprising 13 onshore blocks, nine blocks in the Gulf of Thailand and three blocks in the Andaman. The government has so far granted concessions in three petroleum blocks.

Piyasvasti said the ministry will soon propose to the Cabinet to award the concessions of seven petroleum blocks to five operators that have already been granted approval by the ministry's Petroleum Committee.

APICO LLC and JSX Energy (Thailand) Ltd. are to get concessions for blocks L13/48 and L17/48, respectively. PTTEP Siam is to be granted rights for blocks L21/48, L28/48 and L29/48.

Syarikat Borcos Shipping Sdn. Bhd. and Occidental Exploration Pte. Ltd. are to be awarded concessions for block G1/48, while Pearl Oil (Thailand) Ltd., Horizon Oil (Thailand) Ltd., and Tana Oil and Gas (Thailand) Ltd. are to get concessions for block G10/48 in the Gulf of Thailand.

Recently, the Petroleum Committee has approved the awarding of concessions of four new blocks to four operators.

Pan Orient Energy Corp. is approved for block L53/48, while Occidental Exploration Pte. Ltd. is approved for block G6/48. Pearl Oil Esarn and Northern Gulf Oil (Thailand) are approved for blocks G2/48 and G3/48, respectively.

The bids for the remaining 11 petroleum blocks are still under consideration of the Committee, which should make a decision by the end of 2006, said Piyasvasti.

Source: RigZone - 14 November 2006

[thaihome]

God, I love the Oil and Gas business!!!!!

TH

[womble]

and i'm sure the bdding process will be transparant

[thaihome]

and i'm sure the bdding process will be transparant

Actually the construction of the infrastructure is where the money is. Comparably little in the awarding of the concessions, way too much risk. Wait until something is found...

TH