Exploration & Production

PTTEP boosting capex plans as it eyes African projects

PTTEP plans to increase its capital expenditure next year to $1.84 billion as it looks to develop new projects in Africa.
By Staff reporter 21 December 2018 0 33783

Thailand’s PTT Exploration & Production (PTTEP) plans to increase its capital expenditure next year to $1.84 billion as it looks to develop new projects in Africa, according to the Nikkei Asian Review.

This represents a 4% increase from the company’s 2018 capital expenditure.

PTTEP plans to spend $1.16 billion on gas fields at home and in Myanmar and another $490 million on projects in Mozambique, Algeria and Vietnam.