Wed, August 10, 2022

business

PTTEP gets ready to return Bongkot natural gas field next year


PTT Exploration and Production (PTTEP) signed an agreement on Tuesday to hand the Bongkot natural gas field over to the Department of Mineral Fuels once its concession expires.

The department’s director-general Sarawut Kaewtathip said the Bongkot field comprises petroleum exploration fields 15 to 17. He said the concession for field 15 expires in April 2022, while that of 16 and 17 expires in March 2023.

“As per concession requirements, the concessionaire must return assets related to petroleum exploration, production, storage and transportation back to the government once the concession expires without any charges," he explained.

PTTEP gets ready to return Bongkot natural gas field next year

He said PTTEP has also agreed to fund the demolition of the Bongkot natural gas field.

"The government has conducted a feasibility study on the Bongkot field to see if it can help maintain energy stability and if it is in the national interest,” he added.

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Published : November 10, 2021

By : THE NATION