Chevron, PTTEP vying for Gulf licencesUS-based Chevron Offshore (Thailand) and PTT Exploration and Production (PTTEP) are competing for new licences for offshore petroleum exploration and production in the Gulf of Thailand, according to the companies. The licences, to be granted under a 24th round of auctions covering three offshore areas, do not include the Erawan and Bongkot gas blocks, currently operated by PTTEP. Winners will be awarded petroleum exploration and production rights under production-sharing contracts, or PSCs. PTTEP told stock investors last month it was determined to secure the licences in the auctions. Chevron has recently announced it would bid for an exploration and production licence at G2/65 block.
