Thailand-based PTTEP has announced investment plans worth $24 billion for the next five years (2015-19). Of this amount, up to 80 per cent will be invested in Thailand and other Southeast Asian countries such as Indonesia, Myanmar and Vietnam. The company is also holding discussions with US shale oil producers to buy some stakes in the business. The investment amount does not include PTTEP’s expenditure for new business opportunities aimed at increasing its petroleum reserves. In 2015, overall investment expenditure will be $4.83 billion, of which 52 per cent has been allocated to maintaining production levels for projects in Thailand, namely, the Arthit, S1, Bongkot, Contract 4, and MTJDA-B17 projects. Another 20 per cent will be spent on projects in Southeast Asia, mainly in Myanmar, to maintain production levels for the Zawtika project, development of the Myanmar M3 project, and feasibility studies for that country’s PSC G & EP 2, MOGE 3, MD-7 and MD-8 projects.
