Thailand’s PTT Exploration and Production Public Company Limited (PTTEP) will start exploiting oil in Vietnam very soon, said PTTEP President and CEO Anon Sirisaengtaksin.
Sirisaengtaksin said the installation of the drilling rig and pipeline for the “Vietnam 16-1” project has been completed and PTTEP will start drilling for oil in the third quarter of this year.
PTTEP expects to initially produce 18,000-20,000 barrels a day, increasing to 40,000 barrels per day by the end of 2011.
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