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PTT Exploration and Production (PTTEP)

Thailand

 

 

 

 

Date: January 2004 – Ongoing

Deal: In 2004, according to Norton Rose, the Iranian Ministry of Energy signed a Memorandum of Understanding with PTT to study the feasibility of importing Iranian LNG to Thailand, beginning in 2010 (Iran Energy Report, August 2004).

Date: 2005

Deal: According to PTT’s 2005 Annual Report, PTT established a subsidiary known as PTTEP Iran Company Limited to undertake petroleum exploration and production in Iran. The subsidiary had a paid-up registered capital of $50,000 (PTT Annual Report, 2005).

Date: 2005 - Ongoing

Deal: According to the GAO, PTTEP signed a 25-year contract with NIOC to explore and develop the Saveh gas field in Iran (GAO Report, March 23, 2010).

In May 2010, the GAO reported that PTTEP was one of seven firms that continue to have both Iranian energy contracts and contracts from the U.S. government. PTTEP reportedly had $3 million in contracts from the U.S. government in 2009 (GAO Report, May 12, 2010)

According to PTTEP's website, the company has offices in Tehran (PTT Exploration & Production Website, accessed June 14, 2010).

Date: July 2006 –Unknown

Deal: According to Reuters, in July 2006, PTT signed a preliminary deal with Pars LNG Ltd to import 3 million tonnes of LNG per year for 20 years, starting in 2011. Under the terms of the deal, PTT will receive the gas at a terminal it is building in Thailand, which it expects to complete in 2010. The LNG terminal will be capable of storing 5 million tonnes of LNG per year. (Reuters, July 7, 2006)

As of May 2008, the preliminary LNG deal between PTT and Pars LNG Ltd was delayed due to pricing disputes, according to UpstreamOnline (UpstreamOnline.com, May 2, 2008).

U.S. Business Ties: According to USASpending.gov, PTT has received no U.S. government contracts (USASpending.gov, Accessed August 13, 2014).

Last Updated: August 13, 2014