Thailand: PTTEP to invest $1.7bn to maintain output

Thailand: PTTEP to invest $1.7bn to maintain output

PTT Exploration and Production Plc, the country's largest oil and gas
explorer, plans to invest at least $1.7 billion in 2017 to maintain its
production at the same level as last year, chief executive said.

PTTEP, the upstream exploration business of PTT Plc , aims to produce around
323,000 barrels of oil equivalent per day next year, the same level as last
year, Somporn Vongvuthipornchai told reporters.

Hit by weaker oil prices, PTTEP has focused on cost cutting and expects its
cost per unit to fall by more than 10% to between $31 to $32 a barrel this
year after a decline to $29 to $30 a barrel in the first half, he said.

PTTEP shares jumped 2.06% to 346 baht in the morning trade session, compared
to a 0.61% increase in the Stock Exchange of Thailand index.

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Ref:
http://www.bangkokpost.com/business/news/1101373/pttep-to-invest-1-7bn-to-ma
intain-output

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com