PTTEP plans $3.3bn investment in Myanmar

Bangkok: Thailand's PTT Exploration and Production (PTTEP) is planning to invest $3.3bn in Myanmar over the next few years for offshore oil and gas exploration.

“Zawtika is one of the biggest offshore reserves in Myanmar. We are going to provide oil and gas for sustainable energy supply for Myanmar and Thailand,” said Tevin Vongvanich, chairman and ceo of PTTEP.

The company plans to produce 300m cubic feet of natural gas per day from Zawtika and export to Thailand by the end of this year.

PTTEP currently operates five offshore gas projects in Myanmar, and also participates in the development at Yadana and Yetagun gas fields. [27/02/14]

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