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PTTEP profit chopped as it shoots for 2021 output increase

Sales volumes rise
The Bangkok-based giant took a further financial hit due to the revised production plan for Malaysian state player Petronas’ Yetagun project offshore Myanmar, in which it has a stake.
Despite this, PTTEP last year posted average sales volume to 354,052 barrels of oil equivalent per day versus 350,651 boepd in 2019.
"The company was able to generate profit by adjusting our operational plan, reducing the unit cost for the long term while maintaining our operational effectiveness and achieving business expansions as targeted," PTTEP chief executive Phongsthorn Thavisin said.
These expansions included the award of onshore Block 12 in Oman and the Offshore Block 3 exploration acreage in the United Arab Emirates.

Bangkok , Krung-thep-mahanakhon , Thailand , Malaysia , United-arab-emirates , Canada , Algeria , Oman , Malaysian , Phongsthorn-thavisin , Hassi-bir-rekaiz , Petrona-yetagun

Myanmar: PTTEP receives exclusive right to develop Integrated Domestic Gas to Power Project in Myanmar

Myanmar: PTTEP receives exclusive right to develop Integrated Domestic Gas to Power Project in Myanmar
04 Jan 2021
Integrated Domestic Gas to Power Project in Myanmar after receiving an exclusive development right from the Myanmar government. This integrated energy project aims to provide energy security to Myanmar as well as to lead the company to explore the new business as targeted.
Mr. Phongsthorn Thavisin, Chief Executive Officer of PTTEP, said the company today signed Notice to Proceed for the development of Integrated Gas to Power Project with U Than Zaw, Permanent Secretary of the Ministry of Electricity and Energy (MOEE). This project will promote the utilization of domestic gas supplied from PTTEP’s gas fields in the Gulf of Moattama, starting from Zawtika and Myanmar M3 projects, to generate affordable electricity for Myanmar.

Phongsthorn-thavisin , Daw-nyein , Energy-master-plan , Myanmar-sustainable-development-plan , Ministry-of-electricity , Integrated-domestic-gas , Power-project , Chief-executive-officer , Integrated-gas , Permanent-secretary , Sustainable-development-plan , Domestic-gas