Four firms eye petroleum licence auction

Four companies — two of which are Thai — are interested in participating in an auction for new petroleum exploration and production licences in the Gulf of Thailand, part of the state’s efforts to increase domestic gas supply, says the Department of Mineral Fuels (DMF).

Last month authorities began the 24th round of auctions covering three offshore areas, excluding Erawan and Bonkot gas blocks, which are now operated by PTT Exploration and Production Plc.

The department expects to receive huge interest from investors because of the high prices of oil and gas in the global market, said Sarawut Kaewtathip, director-general of the DMF.

He declined to name the four companies, saying only that two of them are local firms.

Participants in the auction are required to submit their exploration and production proposals in September. The result of the bidding will be…