11 July 2024
US-based Chevron Corp and PTT Exploration and Production (PTTEP) are the only two contenders that submitted their bids for concessions of the Erawan and Bongkot natural gas fields in the Gulf of Thailand.

The National Energy Policy Council chaired by Prime Minister Prayut Chan-o-cha will consider and approve the winning bidders in December and the winners will be announced later the same month.

Gen Prayut stressed the need to grant concessions on these natural gas fields to ensure the country’s energy security, saying he encouraged the public to also listen to information from the government, not only the group protesting against the bidding.

Two 10-year contract signings are scheduled for February as the ministry planned earlier.

Pairoj Kaweeyanun, president of Chevron Thailand Exploration and Production, said Chevron intends to bid for both gas fields and win all.

Somporn Vongvuthipornchai, chief executive of PTTEP, said the company also is confident to win the auctions and get both concessions.

The two gas fields are the vital resources, with a combined natural gas production that represents 60% of Thailand’s total output.

France’s Total SA, holding a 33.3% stake in the Bongkot field and having previously submitted a statement of intent to bid, did not submit bids.

Veerasak Pungrassamee, director-general of Mineral Fuels Department (MFD), said Total possibly saw little potential in the Bongkot gas field and decided not to compete in the auctions.

The MFD will take two months to screen all proposals and will select possible winning bids by November.

The key movement group calling itself energy council for the people, meanwhile continued its move against the bidding for Bongkot and Erawan concessions.  The group on Tuesday filed a petition with the Energy Ministry calling for a suspension of the bidding.