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PTTEP reveals 5-year investment plan Adjusts strategy to cope with oil price fluctuation


Published Dec 29, 2014
PTT Exploration and Production Public Company Limited (PTTEP)

Approximately USD 24 billion for 5-year plan (2015 – 2019), of which 80% allocated to the investments in Thailand and Southeast Asia Prioritize the investment projects to ensure the investment flexibility Target sales volume of 343,000 barrels of oil equivalent per day (BOED) in 2015 or a rise of 6% Strong financial status and liquidity to capture opportunities in M&A deals amid the low oil price environment Tevin Vongvanich, President and CEO of PTT Exploration and Production Public Company Limited or PTTEP summarized the 2014 operating results as well as revealed the adjusted 2015 investment plan that fit with the global oil price circumstance as details below:

2014 Key Achievements

In 2014, PTTEP expects sales volume of approximately 320,000 barrels of oil equivalent per day (BOED) or 9 % higher than the year 2013. The increase of sales volume was resulted from the startup of Zawtika project and the acquisition of Hess Thailand. Despite the decrease in oil price in the fourth quarter, PTTEP has experienced minimal impact on its recurring operations because crude oil sales volume accounts for 33% of total sales volumes and the company has also hedged against falling crude oil prices.

Tags: PTT Exploration and Production Public Company Limited




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