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29 land and sea plots are to be auctioned for oil exploration

Samui Times Editor



29 land and sea plots are to be auctioned for oil exploration | Samui Times
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The National Energy Policy Committee today agreed to put on auction 29 land and sea plots for petroleum exploration and production.

Bidding for the 23 land plots and another six in the Gulf will be opened on February 18.

Mr Dusit Nakhontap, deputy permanent secretary of energy, said today that there are new conditions that the successful bidders will have to adhere to. These include no exploration activities in 1A watershed areas, national parks, wildlife sanctuaries and tourist destinations.

Also, the successful bidders will be required to make financial contributions amounting to a minimum of one million baht annually for educational development in the localities during the exploration period and the amount will increase to two million baht per year during the production period.

The successful bidders will also be charged 5-15 percent royalties and pay income tax amounting to 50 percent of the profits.

Meanwhile, energy groups in Nakhon Ratchasima today submitted a petition to Prime Minister Prayut Chan-ocha through the Damrongtham centre demanding that all petroleum concessions be revoked.

The groups claimed that most oil-producing countries in the world in the world, including Asean, have scrapped concessions which take too much advantage of the host countries.

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