Bangkok: In line with recent indications that Thailand is looking to diversify its energy supplies away from neighbour Myanmar, state energy firm PTT has said if oil prices remain low it will suspend its investment in Myanmar’s offshore project, M-3.
PTT first signed a production sharing contract with Myanma Oil and Gas Enterprise in 2004 for the site, and has been conducting surveys and exploratory drilling since 2011.
PTT owns 80% of M-3, with the remainder held by a Japanese firm. [27/01/15]
