April 2, 2008 - PETROLEUM :PTT Exploration and Production Plc said yesterday that it expected to sign a deal with CNOOC Ltd of China later this month to swap stakes of gas fields in Burma.
"We should sign a contract with CNOOC within this month," said CEO Anon Sirisaengtaksin.
PTTEP said in February that it would swap its 20%stake in Burma's offshore Block M3 and M4 for the A4 and C1 blocks held by CNOOC. PTTEP also owns 100% of the offshore Block M9, which is still under exploration in the Gulf of Martaban.
The company said in August last year that it planned to spend $1 billion on Block M9 and was looking for financial and technical partners to help share the costs of developing it.
PTTEP shares closed yesterday at 153 baht, up two baht, in trade worth 430.08 million baht.
REUTERS-Bangkok Post
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