PTTEP to spend $27bn in coming five years

Bangkok: PTT Exploration and Production has allocated $27.28bn in a five-year investment and acquisition plan to develop projects both locally and abroad.

Overseas projects include across Southeast Asia, Africa and Australia.

President and chief executive officer Tevin Vongvanich said yesterday PTTEP expects to produce 337,000 barrels per day this year, up 16% over last year's level. The goal is to be producing 600,000 barrels a day by 2020, a lower figure than earlier ambitious targets of 900,000 barrels a day.  [08/01/14]

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