PTTEP hosts “2011 Int'l Petroleum Technology Conference”

BANGKOK, February 8 (TNA) - PTT Exploration and Production Public Company Limited (PTTEP), an affiliate of PTT Public Company Limited (PTT), Thailand's largest petroleum firm, hosts the “2011 International Petroleum Technology Conference” (2011 IPTC) for the first time in Bangkok from February 7-9, aimed to promote sustainable development of the global petroleum sector. The three-day forum has brought together some 3,000 petroleum and natural gas operators of 400 leading firms and organizations from 57 countries across the world to discuss their business cooperations and to showcase latest world technologies for the petroleum industry. PTTEP Chief Executive Officer (CEO) and President Anont Sirisaengtaksin told journalists that the meeting provides an opportunity for the leading world oil and gas operators to share their knowledge, experiences, technologies and innovations, particularly on sustainable development of the petroleum industry, including the exploration of new petroleum sources which have now become scarce. According to the PTTEP’s CEO and president, several oil and gas operators have turned their attentions to petroleum sources in the Asian Pacific region, namely those in Myanmar, where PTTEP investment has progressed well. By the end of February 2012, the top executive said, PTTEP will sign new drilling contracts of two land-based petroleum blocks and the M9 offshore gas field in Myanmar with the Myanmar government, which the company has already invested some 2 billion US dollars. PTTEP's production of natural gas in Myanmar is expected to start in 2013 with an initial production capability of some 300 million cubic feet a day, 240 million cubic feet a day for Thailand's supply and the remaining 60 million cubic feet a day for Myanmar. Meanwhile, PTT CEO and President Dr. Pailin Chuchottaworn acknowledged that PTT is also exploring investment opportunities in petroleum production and exploration projects in other countries, and that his company hopes to see the Thai and Cambodian governments conclude talks on joint development projects, for mutual benefits, over their overlapping petroleum claims in the Gulf of Thailand, and that PTT has planned to invest more in petrol stations and production of natural gas for vehicles or NGV in Cambodia as well. (TNA)