PTTEP seeks Burma partners

Friday, 20 January 2012 12:25 Mizzima News

(Mizzima) – PTTEP, Thailand’s state-owned oil company, wants to sell stakes in the M11 field off Burma’s coast in February.

“We are looking to find two partners to come in for investment in M11 but, that being said, we will still have to hold a 40-50 per cent stake and be a major shareholder,” Reuters quoted PTTEP chief Anon Sirisaengtaksin telling reporters on Thursday.

PTTEP has four exploration and production projects in Burma including Yadana, Yetagun, Zawtika and Block M3, M7 and M11, where it holds 100 per cent interest.

Anon said PTTEP would be able to sign contracts for two fields in Burma in February.