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Projects in Algeria and Mozambique will help Thailand’s state-run oil and gas firm PTTEP to boost output over the next five years. The company expects that taking the FID on the projects will aid in boosting output.
PTTEP has stakes in Mozambique’s Area 1 and Algeria’s Hassi Bir Rekaiz.
The company praised the significant progress made at Offshore Area 1 in the Rovuma Basin in Mozambique, where PTTEP and its partners discovered significant reserves of recoverable natural gas. The development plan is under review with the Mozambican government, and approval is expected in H1.
In Algeria PTTEP holds a 24.5% stake partnered with CNOOC and Sonatrach on the Hassi Bir Rekaiz project in the Berkine Basin. Since drilling was launched on the acreage, 10 oil and gas discoveries have been made.