Thai Gas Giant to Invest Billions of Dollars in Burma Gas Project

Source: Agence France-Presse via Burmanet

Thailand’s largest oil exploration firm, PTT Exploration and Production, said Tuesday it would invest at least one billion dollars over the next five years to develop its offshore gas project in Myanmar.

PTTEP this year began exploration of the M-9 block in the southwestern Gulf of Martaban by working with Myanmar’s top state-run oil enterprise, Myanmar Oil and Gas Enterprise.

The company plans to drill a more exploration wells this year and start installing production equipment in 2008, said PTTEP spokesman Sitthichai Jayant.

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