PTTEP Announces Positive Results (Thailand)
The President and CEO of PTT Exploration and Production Public Company Limited or PTTEP, Tevin Vongvanich, disclosed PTTEP second Quarter Operating Results and the company performance.
The company and its subsidiaries posted a net profit of USD 361 million (equivalent to 10,664 million baht), an increase against the second quarter of 2012, which was USD 250 million (equivalent to 7,733 million baht). The second quarter of 2013 comprised of the recurring net profit for this period amounted to USD 535 million, and the loss from non-recurring items amounted to USD 174 million.
In this quarter, the total revenue of PTTEP and its subsidiaries was USD 1,851 million (equivalent to 55,326 million baht), an increase of USD 184 million or 11% against the second quarter of 2012 which was USD 1,667 million (equivalent to 52,164 million baht).The increase was the result of a higher average sales volume in the second quarter of 2013, which increased to 292,721 barrels of oil equivalent per day (BOED) against the first quarter of 2012 which was 263,441 BOED. This increase of sales volume was the result of Bongkot project’s increasing sales volume that has higher nomination against the second quarter of 2012, together with an addition of increased crude oil sales volume from S1 project. Consist of higher average petroleum sales price, which rose to USD 65.16 per barrel of oil equivalent (BOE) against the second quarter of 2012 which was USD 64.17 per BOE.
Moreover, the Board of Directors approved the payment of an Interim Dividend from consolidated performance of PTTEP and its Subsidiaries for the first half year operations of 2013 (January 1, 2013 to June 30, 2013) to the shareholders at the rate of Baht 3 per share; the entire amount is from net profit under Petroleum Income Tax Act. The date for closing of the Company’s share registration for the right to receive the dividend will be August 9, 2013. The dividend payment date will be August 23, 2013