Thai pttep says vietnam 16-1 plan starts operations
BANGKOK| Tue August twenty-three, 2011 2:59am EDT
BANGKOK August twenty-three( Reuters) – Thailand’s largest oil as well as gasexplorer, PTT Exploration as well as Prolongation Pcl, ( PTTEP) , pronounced upon Tuesday a Vietnam 16-1 devise proposed prolongation onAug. twenty-two with an primary upsurge of about fifteen, 000 barrels per day.
A prolongation during Te Giac Trang( TGT) margin is approaching toreach 40, 000 bpd of wanton oil as well as about thirty million cubic feetper day of healthy gas by a finish of 2011, PTTEP pronounced in astatement.
Block 16-1 is a second oil margin for PTTEP off Vietnam.Its twenty-five percent owned Block 9-2 has constructed wanton oil andnatural gas given 2008.
A TGT margin is located off south Vietnam. Wanton oil fromthe margin is ecstatic to a FPSO Armanda TGT 1, a floatingproduction, storage as well as offloading trickery with a processingcapacity of 55, 000 bpd.
A wanton oil is sole to informal refineries during a marketprice, whilst a compared gas will be ecstatic by apipeline to a nearbly Bach Ho devise as well as sole to Vietnam Oiland Gas Group, a Vietnamese state enterprise.
PTTEP Hoang Long Co Ltd, a PTTEP auxiliary, has a 28.5percent interest in a project. Petrovietnam Exploration andProduction Corp Ltd owns 41 percent, whilst SOCO Vietnam Ltd has28.5 percent as well as OPECO Vietnam Ltd 2 percent.
PTTEP, that not long ago cut a 2011 inorganic substance sales aim toreflect weaker sales in second half, directed for 269, 000 barrelsof oil homogeneous per day.
PTTEP, a flagship in a upstream commercial operation of tip energyfirm PTT Pcl, directed to progress a prolongation volumethreefold by 2020 as well as a start-up of Vietnam 16-1 margin waspart of a devise to strech a aim as well as progress pot, itsaid.
During a midsession mangle, PTTEP shares were up 1.2 percent, outperforming a 0.3 percent tumble in a extended marketplace . ($ 1 = 29.87 Baht) ( Reporting by Khettiya Jittapong; Editing by Alan Raybould)
