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PTT forced to hike investment.
Byline: Yuthana Praiwan
Aug. 3--Escalating operating and material costs have prompted PTT Exploration and Production Plc (PTTEP) to revise its five-year investment plan, president Maroot Mrigadat said yesterday.
PTTEP had planned to spend 134 billion baht from 2005 to 2009 on exploration and production, but it has revised the figure upward by 30 percent to 174 billion baht.
Mr Maroot said the increase would have no effect on the company's revenue and profit because petroleum prices remained high while the output from the new production sources has not yet begun.
Most of the investment over the next five years is earmarked for the ...
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