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PTT Exploration Seeks Post-War Ventures in Middle East.

Bangkok Post (Bangkok, Thailand)

| April 02, 2003 | COPYRIGHT 2003 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Yuthana Praiwan

Apr. 2--PTT Exploration and Production Plc (PTTEP) is negotiating with prospective strategic partners to invest in petroleum activities in the Middle East after the war in Iraq ends.

President Chitrapongse Kwangsukstith said the move was part of the company's plan to diversify business into oil exploration and production. Currently, most of the company's investment involves the natural gas business.

Currently, PTTEP is exploring an oil field called Block 44 in Oman, its first such venture in the Middle East. Seismic tests are expected to be completed by early next year, after which further investments in production will ...

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Source: HighBeam Research, PTT Exploration Seeks Post-War Ventures in Middle East.