PTT Exploration and Production Public Company Limited (SET: PTTEP) announced on Wednesday that its subsidiary, PTTEP Energy Development Company Limited, has secured the rights for petroleum exploration and production in Exploration Blocks No. G1/65 and G3/65. The company has been awarded 100% interest and operatorship for these blocks through the Ministry of Energy’s 24th Bid Round for Offshore Exploration Blocks in the Gulf of Thailand.
PTTEP stated that the signing date for the Production Sharing Contracts will be determined at a later stage.
This development aligns with PTTEP’s investment strategy, which focuses on expanding in strategic areas to drive growth. The proximity of these newly acquired blocks to the company’s existing operations enhances the potential for rapid commercial development and cost efficiency.
