Bangkok--29 Sep--PTT
PTT Plc’s President Prasert Bunsumpun(center) chaired the signing ceremony between International Trading Ptt Plc’s Executive Vice President Surong Bulakul(right) , PTT Exploration and Production Plc’s President Maroot Mrigadat and PTTEP Oman Co.Ltd’s Chairman.(left)
The agreement was the first time that PTT Plc to sign contract with PTTEP Plc to purchase crude oil from the oilfield in overseas-the exploration block No. 44.
Under the contract, PTT Plc will purchase a whole amount of crude oil produced at the exploration block No.44 by PTTEP Oman Co, which will have production in coming October 1.
The deal serves as a major step for PTT Plc’ effort to strengthen energy stability, reduce oil import and generate foreign income. In addition, Oman oil also has high demand among domestic production due to appropriate qualification and its competitive price.
PTT has official purchased crude oil from Oman’s Ministry of Oil and Gas since 2000. Later PTTEP Plc won the right for the exploration and production in oilfield block No 44, which is the first project that PTTEP Plc has operated by its affiliated PTTEP Oman Co.
Click for photo release at www.thaipr.net