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BP: PTT clear to buy gas from



April 8, 1998


                                     


              PTT clear to buy
              gas from
              Thai-Malaysian
              development area 

              The cabinet yesterday gave the green light for the Petroleum
              Authority of Thailand (PTT) to sign an agreement to purchase
              natural gas from the Joint Development Area (JDA) on the
              Thai-Malay continental shelves.

              Signing of the heads of agreement is scheduled for April 22 in
              Songkhla. Both the Thai Prime Minister Chuan Leekpai and his
              Malaysian counterpart Mahathir Mohamed are expected to be
              present at the ceremony.

              The heads of agreement establishes the basic terms for the gas
              supply contracts to be developed from the three blocks in the
              JDA which covers a total area of 7,250 square kilometres in
              southern Gulf of Thailand.

              The Petroleum Authority of Thailand (PTT) and Malaysia's
              Petronas will purchase the JDA gas which is expected to start
              flowing in the year 2001 at the initial rate of 300 million cubic
              feet per day (MMcfd).




                                     




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Last Modified: Wed, Apr 8, 1998