PTTEP promises Erawan production as targeted Hopes to reduce LNG imports, press down on cheap electricity bills by the end of the year

2023-04-30 20:30:37

PTTEP commits to meet Erawan production target in mid-year Encouraged to increase the amount of gas in the Gulf of Thailand, reduce LNG imports, press down on electricity costs at the end of the year

Mr. Montri Lawanchaikul Chief Executive Officer, PTT Exploration and Production Public Company Limited or PTTEP Said that the progress in the G1/61 project (Erawan, Platong, Satun, Funan) the company has accelerated the drilling of production wells. in order to increase the rate of gas production according to the plan This will increase to 400 million cubic feet per day by the middle of this year. and will increase to 600 million cubic feet per day by the end of the year. And will rise to 800 million cubic feet per day in April 2024, which will help reduce the impact on energy costs for people.

Mr. Montree said that in Q1 (January-March 2023), PTTEP won the 24th bid for exploration and production blocks in the Gulf of Thailand for 2 blocks, G1/65 and G3/65, located near with the G1/61 and G2/61 projects that the Company is already operating This makes the project development plan faster. To create energy security for the country. In addition, it has also entered into a joint venture with a Malaysian oil and gas company to obtain exploration and production rights for petroleum block SK 325 in Malaysia.

Energy industry news reports that Natural gas production figures from the G1/61 project Especially the Erawan field of PTTEP. Announced that it will produce gas to reach 400 million cubic feet per day by the middle of this year. It is considered an important variable to the total gas volume in the Gulf of Thailand. and the total amount of fuel which will affect the electricity bill If the proportion of Gulf gas increases, Thailand will import less expensive LNG. will result in a decrease in electricity costs by the end of 2023