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Russia-Ukraine war prompts PTTEP to produce more oil and gas

Thai exploration arm invests massively to boost profits, secure energy supply

Production in Myanmar's Yadana gas field faces possible disruption as Western operation partners prepare to pull out. (Photo courtesy of PTTEP)

BANGKOK -- Surging oil and gas prices due to the Russia-Ukraine war have encouraged Thai oil and gas conglomerate PTT Group to invest massively to raise production capacity and capitalize on the high prices as well as secure a stable power supply at home.

The group's exploration arm, PTT Exploration and Production (PTTEP), has earmarked $5.66 billion for its investment budget this year.

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