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PTTEP to raise future spending: More money to speed up operations abroad.
Byline: Yuthana Praiwan
Nov. 3--Rising construction and material costs have prompted PTT Exploration and Production Plc, the exploration arm of PTT Plc, to increase its investment budget from 2005 to 2009 by 40 billion baht to 174.34 billion.
The listed firm also pledged to accelerate its overseas investments in petroleum exploration and production to ensure the country's long-term energy security.
"Investment costs in this industry have risen over the years. That is not a problem because it results in long term benefits to Thai people and nation," said PTTEP president Maroot Mrigadat.
The rising costs in construction, materials and ...
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