On 24 February, Tevin Vongvanich, head of Thailand's state oil and gas company PTT, visited the Moscow office of Gazprom International.
During the meeting, which was attended by Alexey Shebarshin, Deputy Director of the Moscow branch for International Cooperation, and Valery Cholovsky, Technical Director, from the Russian side, the parties informed each other about the current activities and projects of both companies as well as the perspectives and plans for future development.
PTT's oil and gas projects in different parts of the world are carried out by its specialized subsidiary, PTT Exploration & Production (РТТЕР).
The participants expressed their mutual interest in establishing working contacts between the companies not only at the management level but also in the format of expert groups with the objective of studying the information provided to each other and investigating opportunities for possible cooperation.
According to Gazprom International’s specialists, boosting cooperation in Southeast Asia and the Indian Ocean basin, where PTT has solid presence, may allow the companies to reach a new level of development.
PTTEP was founded in 1985 and currently ranks second in Thailand in terms of capitalization ($20 billion). The company, with over 9.000 employees, is headquartered in Bangkok.
PTTEP’s share makes for 32% of the total volume of domestic oil and gas production. The proved reserves amount to 969 million barrels of oil equivalent, 72% of which are comprised by gas. The company is active in other countries, with 44% of the total volume of its works carried out abroad.
The main goal of PTTEP is to reach a total volume of production of 900 thousand barrels of hydrocarbons per day by 2020.