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Thailand's PTT Gets Nod to Invest i



Subject: Thailand's PTT Gets Nod to Invest in Burma Gas

    BANGKOK, Feb 12 (Reuter) - Thailand's state-run Petroleum Authority of
Thailand (PTT) on Wednesday got the green light to invest in a natural gas
project in Burma in which Texaco <TX.N> is also a partner, a senior minister
said. 

    Sompong Amornvivat, a minister in the prime minister's office, said the
Board of National Energy Policy Office approved PTT's plan to invest and buy
natural from Burma's Yetagun project in the Andaman Sea. 

    It also allowed the agency to sign a contract to buy natural gas from the
Nam Pong and Benchamas fields, he said but did not give details. 

    The PTT plans to invest in the Yentagun project through its exploration
arm PTT Exploration and Production Plc <PTTE.BK>. 

    PTTEP late last month signed a farm-in agreement to develop and produce
natural gas at the Yetagun project. It will hold 14.17 percent stake in the
investment. 

    Other partners included Texaco Exploration Myanmar, Premier Petroleum
Myanmar Co and Nippon Oil Exploration (Burma), a unit of Nippon Oil <5001.T>.


    Yetagun field, located in the Gulf of Martaban in the Andaman Sea, has
estimated natural gas reserves of around 1.1 trillion cubic feet. It is
expected to come onstream in 1999 with initial capacity of 200 million cubic
feet per day of natural gas. 

    -- Bangkok newsroom (662) 652-0642   

06:35 02-12-97