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Thailand's PTTEP to expand gas investment in Africa

Energy company plans capital investment of almost $2bn next year

Thailand's PTTEP will earmark nearly $2 billion for capital spending next year, partly for new gas developments.

BANGKOK -- Thai oil driller PTT Exploration & Production said Tuesday it will disburse $1.84 billion in capital expenditures next year, partly to finance new developments in Africa.

The amount marks a 4% increase from this year's capital spending, with $1.16 billion going to existing gas fields at home and in Myanmar, and $490 million to fresh projects in Mozambique, Algeria and Vietnam.

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