Thailand plans Feb auction including offshore petroleum concessions

Thailand will host a new auction round next February for petroleum concessions on 29 onshore and offshore blocks.

Offshore staff

BANGKOK –Thailand will host a new auction round next February for petroleum concessions on 29 onshore and offshore blocks. The 21st auction round, which will be the first since 2007, will entertain proposals by Feb. 18, Reuters reported.

Six out of the 29 blocks up for auction are located offshore in the Gulf of Thailand, and 23 are onshore, mostly in the northeast.

According to Reuters, the offered blocks will allow Thailand to tap an estimated volume of 1 to 5 tcf of natural gas and 20 to 50 MMbbl of crude oil.

10/23/2014

More in Regional Reports