PTTEP announces $19.6bn capex plan

Investment plan: PTTEP is expecting to spend about $19.6 billion through 2016

Thailand's PTT Exploration and Production (PTTEP) has earmarked about $19.6 billion for investment through 2016, excluding investment expenditure to support new venture opportunities.

The investment plan was flagged by PTTEP Chief Executive Anon Sirisaengtaksin last week to reporters, according to Reuters.

The country's top oil and gas explorer told the Bangkok stock exchange in a regulatory filing that it would spend about $5.17 billion this year to maintain plateau production at major projects including S1, Bongkot, Arthit, and Canada Oil Sands KKD and to develop new projects and exploration activities.

PTTEP has a total of 41 projects now, of which 20 are under production, two under development and 19 under exploration, it said.

The company expected average…

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