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PTTEP wins bid to operate gas blocks in Gulf of Thailand

But industry doubts its promise of selling at below market price to government

PTTEP, a subsidiary of energy conglomerate PTT, said it would sell gas from the Erawon and Bongkot blocks at below-market prices to the government.   © Reuters

BANGKOK--Thailand's PTT Exploration and Production, a subsidiary of state-owned energy conglomerate PTT, won a bid to explore and produce gas from two blocks in the Gulf of Thailand, beating the only competitor Chevron (Thailand) Holdings.

Energy Minister Siri Jirapongphan said the cabinet has approved the result of the bid, which gives PTTEP the right to operate gas exploration and production in the Erawon and Bongkot gas blocks.

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