Thailand: PTTEP Profit Up 24 Pct

PTT Exploration and Production Public Company Limited or PTTEP reported a net profit of USD 1,041 million (equivalent to 30,922 million baht), an increase of USD 202 million or 24% compared to the net profit of the same period in 2012. This comprises of the recurring profit of USD 1,120 million deducted the loss from non-recurring items of USD 79 million.

The average sales volume from January to June 2013 was 292,102 barrels of oil equivalent per day (BOED). The higher total revenue came from the higher sales volumes from Bongkot project, S 1 project, and Vietnam 16-1 project.

PTTEP payment of an Interim Dividend for the 1st 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 the net profit under Petroleum Income Tax Act. The date for closing of the Company’s share registration for the right to receive the dividend was on August 9, 2013. The dividend payment date will be on August 23, 2013

Tevin Vongvanich, the President and CEO of the company said “Our performance accordance to the mentioned business strategies enabled PTTEP to increase our average petroleum sales volume up to 300,000 – 310,000 BOED which is 9% higher than last year.”