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

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.
Stay updated with Samui Times by following us on Facebook.- The News2 days ago
Deep Week in Phuket – The world’s largest open freediving festival
- The News2 days ago
Where to buy electronics in Thailand 2022
- The News3 days ago
Thai officials say out-of-order tsunami buoys will be fixed soon
- The News1 day ago
23 things to look out for when viewing a property in Thailand
- The News2 days ago
UPDATE: French woman dies riding bicycle in central Thailand
- The News2 days ago
Man arrested for smuggling durian trees valued at 1 million baht to Laos
- The News2 days ago
Mayor says more changes to come at Chon Buri’s Jomtien beach
- The News2 days ago
Can Non-Thai nationals get financing to buy property in Thailand?