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Economy

Long delayed auction for Gulf of Thailand gas blocks kicks off

Abu Dhabi's Mubadala seen joining incumbent operators PTTEP, Chevron in bid

PTT Exploration and Production said it would bid for the operation of the gas blocks.   © Reuters

BANGKOK -- The Thai government on Tuesday announced auction details for the Erawan and Bongkot gas blocks in the Gulf of Thailand, restarting a process that had been delayed many times over the last few years.

The government will announce the names of the companies that qualify to make bids in May and they will have until September to submit their documents. Gas is the source of more than 70% of power that is generated in Thailand. The winner of the auction will be announced by the end of this year.

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