Thailand plans licensing round in May

Thailand is set to open its 20th round of licensing next month, offering 65 blocks having a combined area of 235,576 sq km.

Apr 23rd, 2007

By an OGJ correspondent
BANGKOK, Apr. 23 -- Thailand is set to open its 20th round of licensing next month, offering 65 blocks having a combined area of 235,576 sq km.

Of the concession blocks, 56 are onshore and 9 are in the Gulf of Thailand. Like the previous round, the offer is for a 1-year period.

Thai Energy Ministry officials are optimistic that the new round will attract international oil firms due to rising oil prices and advanced exploration technology, which minimizes risks.

In the previous round, from July 2005 to June 2006, Thailand offered 82 on and offshore tracts totaling 440,704 sq km, and it awarded 21 of them.

Officials said the 19th round concessionaires are expected to spend $85 million in exploration works over the next 3 years.

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