By an OGJ Online Correspondent
BANGKOK, Mar. 6�Thailand state-owned company PTT Exploration & Production PLC (PTTEP) reported 2000 net profits of $126.34 million (US), up 148% from 1999 due to sharp increases in gas prices and increased sales volumes.
PTTEP said revenues surged last year, fueled largely by production from Pailin field in the Gulf of Thailand and Yadana field in Myanmar's Gulf of Martaban.
Chitrapongse Kwangsukstith, PTTEP president, reported sales rose to 80,316 boe/d in 2000 compared with 66,642 boe/d in 1999.
Industry analysts said PTTEP benefited from the higher crude prices and from increased gas purchases by its parent firm, Petroleum Authority of Thailand, which supplied gas to domestic power plants operated by the Electricity Generating Authority of Thailand and private producers.
Chitrapongse said PTTEP will increase production from its own and joint venture projects while seeking additional overseas exploration and production ventures in Vietnam, Indonesia, Iran, Oman, Yemen, and Sudan.
