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Drilling Postponed By PTTEP, As the Production Fell Short Of Expectations

The drilling was PTTEP’s plan of action, covering a capital expenditure of US$5.51 billion. According to the President and chief executive – Tevin Vonvanich, has stated that this delay is necessary, as the production in the fields failed to meet the expectations.

Despite the delay, the financial performance will remain stable, as the motive is simply to maintain the production, rather than increasing the capacity. Thus, it will have minimum impact on the financial resources.

 The sole petroleum explorer of Thailand – PPTP has postponed the drilling of wells to next year

The sole petroleum explorer of Thailand – PPTP has postponed the drilling of wells to next year

The PTTEP stated at a meeting of stock exchange in Thailand that it has signed a contract of production sharing with Myanmar Oil and Gas Enterprise (MOGE) for production rights and onshore exploration in Myanmar.

While PTTEP remains the head partner with 85% of share, the rest of the joint ventured partners will enjoy about 5% to 10 % of the share in their kitty. Over the next few years, this joint venture is planning to invest around $70 million, to develop more wells for exploration.

Currently, PTTEP contributes about 75,000 plus barrels of oil per day, from its projects of Zawtika, Yadana and Yetagun, situated in Myanmar.

About The Author

David Nataf started his career as co-founder of Net Development, a leading French web integrators, employing 80 people. After the merger of Net Development with Reef publisher, David joined the law firm, Jean-Pierre Millet, with the defense of computer attackers and victimes specialty ("hackers") in cases between different organizations such as NSA or other members of the international interception 'Echelon' network from the UKUSA treaty or the US Air Force. He is the author of several books on information warfare, consultant for the European Parliament as an expert in computer security (SSI) and electromagnetic signals intelligence (SIGINT). David Nataf successively launched several start-ups of the Internet in the field of paperless technologies termination of contracts online ("resilier.com"); online subscription to early stage fundraising foreshadowing the model will retain more later the platform "gust.com", or free roaming mobile operators (MVNO). Given his specialty at the cross road of anti computer crime legal advising, Internet technology, media and anti-propaganda operations, David has naturally become an actor's influence on the Web, working for a think-tank representing french defense and Aerospace. He is architecting crypto farms and masternodes for cryptocurrencies in Asia and Israel technological parks. He graduated in Law from the Faculty of Paris, is a passionate graduated gemologist by Gemological Institute of America "GG", Gemmological Association of Great Britain "Cert-Ga", practical daily triathlon.

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