BANGKOK, 26 February 2015 – The 21st round of petroleum concession bidding is now expected to take place between September and October this year, according to Energy Minister Narongchai Akrasanee.
The minister indicated on Tuesday his ministry was canceling the current round of applications for petroleum exploration and production, which originally would have lasted until March 16. The annulment would make way for amendment to the B.E. 2514 law on petroleum, slated to be completed within three months. The amendment will bring changes to the existing conditions for production sharing contracts (PSC), according to the Energy Minister. The 21st round of petroleum concession grants is now expected to take place between September and October, said Mr. Narongchai.
Deputy Prime Minister Wissanu Krea-ngam revealed that Prime Minister Prayut Chan-o-cha was satisfied with the findings from the forum on the 21st round of petroleum concession grants. He said the forum proceeded constructively and the the arguments presented during the discussions were of enough weight. Therefore, the Ministry of Energy has been assigned the responsibility of analyzing the conclusions that will be yielded from the joint committee addressing the concession grants issue.
Mr. Wissanu said the government has not imposed a time frame, but it will inform the National Legislative Assembly of the urgent requirement of the new bill that will facilitate the granting of the petroleum concessions.
