The government of Thailand will announce the terms for the auction for the Erawan and Bongkot offshore gas fields in July or August 2017 and will announce the winners in February 2018. If the auction fails to attract bidders, the government will negotiate extensions with the existing holders of the concessions, namely Chevron and PTTEP, which will be allowed to bid in the auction.
The Erawan gas concession is currently operated by Chevron and is set to expire in 2022. The Bongkot gas concession is operated by the Thai oil and gas group PTT Exploration and Production (PTTEP, part of the PTT Group) with a 44.445% interest, in partnership with Total (33.333%) and will expire in 2023. The Erawan and Bongkot fields jointly produce 62 mcm/d (23 bcm/year) of gas, accounting for ore than 3/4 of gas production in the Gulf of Thailand.
In May 2017, PTTEP has already announced that it would bid for the extension of the two concessions.
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