ChevronTexaco reportedly increased its signature bonus for the offshore G4/43 block by $1 million and upped its production bonus from $1 million to $1.5 million.
In addition, the US major offered state-owned PTT Exploration and Production (PTTEP) an option to buy 30% in the block, up from 15% in its original proposal. A ChevronTexaco spokeswoman declined to comment on the specific terms, saying they were still under negotiation.
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