Bangkok--12 Jan--PTT
Today, January 12, 2009, at the Ministry of Foreign Affairs, H.E. Apisit Vejjajiva, the Prime Minister of Thailand, and H.E. Jose Ramos Horta, the President of Timor-Leste, witnessed the Memorandum of Understanding (MOU) Signing Ceremony between Mr. Prasert Bunsumpun, Chief Executive Officer and President of PTT Public Company Limited (PTT), and H.E. Alfredo Pires, the Secretary of State for Natural Resources of Timor-Leste, on the collaboration of the energy development in Timor-Leste.
Mr. Prasert said that PTT has been interested in seeking good business partnership for both parties to achieve the win-win energy development collaboration. The Timor-Leste Government has truly been satisfied with such business model and agrees to sign today’s MOU to form the framework for future collaboration.
Under the MOU, PTT will assist Timor-Leste Government in various areas of their energy development programs. The business-operating model of PTT as the national energy company of Thailand will be shared with Timor-Leste authorities as part of the upcoming establishment of their National Energy Corporation. PTT Group will also support their human resource development through on-the-job training programs in Thailand. On business cooperation, both parties will conduct a joint study on the exploitation of the high potential energy resources in Timor-Leste as well as on related businesses collaboration in Exploration & Production, Transmission Pipelines, Gas Separation Plants, Petrochemical and Power Plants. The Steering Committee and Working Groups will be set up by the parties to carry out related work programs.
Telephone 0-2537-2159 PTT Corporate Communications Dept.
Facimile 0-2537-2171