PTT outlines 20 year investment plan

29-Jun-10

Thailand’s largest oil and gas firm PTT is in the process of outlining a 20 year investment plan. Expected to be completed before August, it will be submitted to PTT's Board of Directors for formal approval. This will be the largest investment in the company's history, taking it into new areas of the energy sector, will focus on upstream and downstream sectors, alternative energy and the petrochemical industry, along with investing in power plants and coal business. Each of PTT's subsidiaries will be responsible for the areas in which they are expert. Though the total size of its investments over the next 20 years is unclear, funding is being arranged for the plan, to be split into two 10 year plans. The Thai major plans to focus on projects outside the country, earmarking 50% of the total investment into overseas projects. Half of the total investment will fund projects in upstream energy; 15-20% in downstream energy; 20% in the petrochemical industry; and 10% to alternative-energy projects. Though four of PTT's subsidiaries Thai Oil, IRPC, PTT Aromatics and Refining and PTT Chemical are to be merged in the future, they would be divided as business units under one umbrella.