Arthit Field Delay Deals a Blow to PTTEP Sales Ambitions

May 2006 | Company News Alert

PTT Exploration and Production (PTTEP)'s unlucky streak with the Arthit field continues, with the leading Thai gas producer saying that production has yet again been delayed from an anticipated start date of mid-2007 to early 2008 at latest. Production in the offshore field, one of the company's key domestic assets, has been marred by equipment shortages and technical difficulties. The delay in coming onstream will negatively impact sales volumes for 2007 according to company officials, with the target of 224,000 barrels of oil equivalent (boe) per day for that year looking increasingly optimistic. At the same time, however, state-controlled PTTEP

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