EXPLORATION PACE SLATED TO PICK UP ON 13TH ROUND ACREAGE IN THAILAND

09/23/1991
Thailand is about to see a major surge in exploration by foreign companies the next 3 years. With the tentative award of 33 petroleum concessions this summer, 17 companies are poised to spend at least $150 million for exploration during an initial 3 year obligation period, said Prakong Polahan, deputy director general of the Department of Mineral Resources The 13th round of bidding resulted in a flurry of interest that contrasts with a slowing of the exploration pace in Thailand in recent years. Few new companies have tried to enter the Thai exploration scene in recent years, and most companies operating existing concessions had complet...
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