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BizBriefs
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2007-02-11 23:09:33-05
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Thailand, Oman seek natural gas, oil in Myanmar
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BANGKOK, Feb 12 - Thailand and Oman will cooperate in exploring for natural gas and oil fields in third countries, with Myanmar being the first target, Thai Energy Minister Piyasvasti Amranand said Monday. The plan is a follow-up step following PTT Exploration and Production's (PTTEP) commencement in producing natural gas and condensate from Oman's Shams field last week. PTTEP is the first Thai company to produce petroleum in the oil-rich Middle East country. After the successful cooperation, Thailand has held discussions with Oman Minister of Oil and Gas Dr. Mohammed Hamed Saif Al-Rumhy. Both parties agreed that the time is right to explore natural gas and oil fields in third countries that could be in the Middle East or anywhere else. They plan to start the exploration in Myanmar soon. Mr. Piyasvasti said that the project reflects the significant progress of cooperation between Thailand and Oman in addition to their existing trade and investment relationships. He added that future oil prices in Thailand will be lowered when condensate produced by PTTEP is delivered to Thailand and the country's burden of petroleum imports is thereby reduced. (TNA)
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