BANGKOK Nov 28 Thailand's military government
will complete an auction in 2018 for expiring oil and gas
contracts held by Chevron Corp and PTT Exploration and
Production, the country's energy minister said on
Earlier, the government said it planned to open bids for the
contracts in March 2017 and that the auction would be completed
by September 2017.
"We have to admit that we can't open bids in March 2017 but
will try to do it in 2017. The auction will be completed in
2018," Energy Minister Gen. Anantaporn Kanjanarat told
reporters, citing a delay in the approval of the petroleum act
as the reason.
Chevron's Thai unit holds concessions to operate the Erawan
gas field. PTTEP operates the Bongkot gas field. Contracts for
the two offshore fields are due to expire in 2022 and 2023,
They have combined production of 2.2 billion cubic feet per
day, or 76 percent of output in the Gulf of Thailand.
PTTEP, Thailand's largest oil and gas explorer, has said it
will bid to operate the Bongkot field.
The military government delayed a bidding round of
concessions for 29 onshore and offshore blocks in early 2015 due
to criticism of the contract terms from politicians and
The bidding round was originally planned for 2011 but was on
hold after devastating floods that year and then a political
crisis that culminated in a military coup in May 2014.
(Reporting by Satawasin Staporncharnchai; Writing by Orathai
Sriring; Editing by David Evans)