Company News: PTTEP sets 5-year, $5.8 billion E&P budget

Exploration and production companies continue to set their capital budgets for 2006, and beyond. Some of the most recent announcements include:• Thailand’s state-owned PTT Exploration & Production (PTTEP) plans to spend $5.8 billion over 5 years to expand drilling and exploration in Thailand as well as in Indonesia, Malaysia, Myanmar, and Vietnam, the company said.• Amerada Hess Corp. plans a $4 billion capital and exploratory expenditure program for 2006, which includes $413 million to acquire Egyptian assets from Apache Corp. and $366 million to reenter the Waha license in Libya.• Compton Petroleum Corp., Calgary, has budgeted $575 million (Can.) for 2006 ...

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