PTTEP aims for 22% output boost | Bangkok Post: business

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PTTEP aims for 22% output boost

PTT Exploration and Production Plc (PTTEP) expects its annual output will increase by 22% to 324,000 barrels of oil equivalent (BOED) by 2016, up from 265,000 at the end of last year, through a massive capital investment of US$19.6 billion.

Chief executive Anon Sirisaengtaksin said the company will spend $5.17 billion to drill oil and gas wells this year.

The major part of the budget will go to maintaining oil and gas production including the S1, Bongkot, Arthit and Canada Oil Sands KKD projects and developing new projects and exploration activities.

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