PTTEP, Myanmar sign exploration agreement

Thailand's PTTEP has signed an agreement with Myanmar to begin production from gas reservoirs off the country's southern coast in the Gulf of Martaban.

Eric Watkins
Senior Correspondent

LOS ANGELES, May 8 -- Thailand's PTT Exploration & Production PLC has signed an agreement with Myanmar to begin production from natural gas reservoirs off the country's southern coast in the Gulf of Martaban, according to PTTEP Chief Executive Officer Anon Sirisaengtaksin.

The deal follows PTTEP's gas exploration success earlier this year with four wells drilled on Block M-9 in the gulf. PTTEP, Block M-9 operator, expects its wells there to begin producing gas in 2012.

Most of the gas will be used to meet demand in Thailand.

Contact Eric Watkins at hippalus@yahoo.com.

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