Bangkok--25 Nov--PTTEP
The Australian Minister of Resources and Energy announced the Montara Commission of Inquiry’s final report and findings which mentioned about the capability to be operator in Australia of PTTEP Australasia (PTTEP AA), a subsidiary of PTT Exploration and Production Plc.
The company would like to inform that PTTEP AA has developed the Action Plan, submitted to the Australian Government after the Commission of Inquiry and investigations were undertaken. The implementation has been conducted by PTTEP AA over the past 12 months in consultation with the Australian Government and key regulatory agencies; and under supervision of PTTEP. We have regularly updated the Australian Government on its progress which was reviewed by an independent consultant appointed by the Australian Government. Its efficiency can be proven by the quotation of the Commissioner’s comment in this report that this Action plan is “comprehensive and impressive”. The result of independent consultant review will be submitted to the Australian Government soon and will provide evidence for the consideration in PTTEP AA’s capability to be an operator in Australia.
The key elements of the Action Plan covers the improvement of the SSHE management system; development of a drilling and a competency management system; and the interfaces between PTTEP Headquarter in Bangkok and PTTEP AA in Perth. In all these areas, PTTEP AA will strive to achieve the E&P industry best practice.
Some elements of this Action Plan have been accomplished or in progress i.e. the clarification of well integrity barriers of the Montara Wells have already been certified by the Australian authorities; and the review of PTTEP AA Drilling organization to improve efficiency and safety is almost completed.
Mr.Anon Sirisaengtaksin, President and CEO of PTTEP said “PTTEP is confident that PTTEP AA will continue its development of Montara since we have developed the Action Plan and implemented it for 12 months. We regularly updated its progress to the Australian Government. We therefore reaffirm our confidence that this extensive implementation can regain the Australian Government trust in PTTEP AA capability as a prudent Operator with International best practice. We also commit to continue our investment in Australia in long term.”