Environment and Energy
Thailand has had on of the fastest growing economies in the world over the past twenty years and experienced a parallel increase in demand for energy to fuel its impressive industrial expansion. The government has recently set forth a sustainable and rational energy plan that will address the kingdom's short and long tern supply and demand issues, and which secures Thailand's future energy sufficiency.
With the one of the 10 largest petrochemical sites in the world and increasing distribution system pipelines, Thailand offers attractive foreign investment opportunities in the petrochemical industry. Such global leaders as Dow Chemical and Exxon Mobil have already successfully invested and are prospering in the country.
BOI Incentives for the Alternative Energy Industry
BOI Offers an extensive package of tax and non-tax incentives, including for the development of mass transit systems, energy-conserving machinery and fuel cell technology. Investments in energy efficient technology will receive 8 years corporate income tax exemption, in any zone:
- Manufacturing of solar cells
- Electricity or steam power generation through the use of alternative energy sources
- Manufacturing of energy saving machinery or renewable energy equipment and machinery
- Energy Service Consulting companies, to provide consulting services regarding the use and/or installation of energy-saving machinery or alternative energy equipment
PTTEP Canada Company Limited
PTT Exploration and Production Public Company Limited (PTTEP) discloses that on November 22, 2010, PTTEP Netherland Holding Limited or PTTEP NL (a subsidiary of PTTEP) has signed the Partnership Unit Sale Agreement with Statoil Canada Ltd. and Statoil Canada Holdings Corp. (the subsidiaries of Statoil ASA or Statoil) to acquire a 40% interest in the Kai Kos Dehseh Oil Sands Project (KKD) in Canada. The transaction will be completed through the purchase of 40% of the partnership units of Statoil Canada Partnership (SCP) for a total consideration of US$ 2,280 million. Upon the closing of the transaction, Statoil will hold a 60% interest in SCP and retain the operatorship of KKD.
KKD is a significant oil sands deposit in Canada covering an area of 257,200 acres with an estimated 4.3 billion barrels of recoverable Bitumen resources (independently assessed by a leading external petroleum consultant). KKD is an IN-SITU oil sands project utilizing Steam Assisted Gravity Drainage (SAGD) technology, well established and proven production technique, with an expected project life of over 40 years.
KKD is located in Athabasca, Alberta in western Canada, and its attractive acreage position is surrounded by around 11 other commercial SAGD projects. KKD has 5 core areas, namely Leismer, Corner, Thornbury, Hangingstone, and South Leismer. In early 2011, the Leismer Project will have an initial production at 10,000 barrels per day (gross). Given the large bitumen resources, a staged development program is envisaged, which could ultimately bring production levels to over 300,000 barrels per day (gross) from the 5 areas.
The primary product of the KKD oil sands project will be sold to various refineries in the U.S.A. In the long run, additional potential markets for KKD’s heavy oil product is expected to develop in the US Gulf Coast region, and potentially to the Canadian West Coast where heavy oil product could access Asian markets.
For more information please go to www.pttep.com.