Chevron looks to lay off another 800 staff

Chevron plans to lay off 800 staff this year in Thailand as it looks to cut $500 million in costs at the Thai business to weather the fall in global oil prices, the company said.

Oil & Gas

Ophir Energy launches Thailand exploration

Ophir Energy said it has launched its two-well exploration programme in Thailand after spudding of the first wildcat. The company said it had spudded the G4/50-10 exploration well on the Soy Siam prospect in the western Gulf of Thailand. The block partly surrounds Ophir's producing Bualuang oil field and spans a series of Tertiary aged sub-basins in the region.

Oil & Gas

Thailand’s PTT to buy LNG from Shell, BP via long-term contracts

Thai state energy firm PTT PCL has won approval to buy a total 2 million tonnes a year of liguefied natural gas (LNG) from Shell Eastern Trading (PTE) and BP Singapore PTE Ltd in long-term contracts, the energy minister said on Thursday. Shell Eastern and BP will supply 1 million tonnes each to state-controlled PTT from 2017, Energy Minister Narongchai Akrasanee told reporters after a meeting of the ministry's policy and planning office. As part of the 15-to-20 year contracts, PTT will import 0.5 million tonnes of LNG from Shell Eastern and 0.317 million tonnes from BP in April 2016, Narongchai said.


Pan Orient sells share in onshore Thailand block

Pan Orient Energy has sold a 50% interest in its subsidiary which operates its L53/48 Thailand concession to Sea Oil for $42.5million including a working capital adjustments of $2.4million. The deal is expected to be closed by January, with a $4million break free payable by Sea Oil if shareholder approval is not obtained.