Thai energy company Bangchak to invest in Norway

Mr. Chaiwat Kovavisarach and Mr. Svein J. Liknes, Chief Executive of Okea together at a petroleum exploration and production site of Okea.

Thai Energy Conglomerate Bangchak Corporation Plc (BCP) submitted a new investment plan on expansion of oil and gas exploration and production to the Norwegian oil and gas company, Okea ASA on 13 September 2022.

The investment goal is to elevate its production capacity.

Mr. Chaiwat Kovavisarach, Chief Executive/President of BCP and Chairman of Okea said:

“BCP is interested in investing in the oil and gas business through its partner, Okea. We see more opportunities to invest in petroleum exploration and production.”

At present, Okea operates four petroleum fields in Norway including Draugen (44.56% stake), Gjoa (12% stake), Yme (15%), and Ivar Aasen (2.77%).

The company recorded 10.2 billion baht in revenue from the sale of crude oil and natural gas in the first half of 2022.

BCP expects its oil and gas production capacity to increase from the current barrels, around 20,000 to 30,000 barrels of oil equivalent per day in 2023.

Source:

About Kanlayakorn Pengrattana

Kanlayakorn 'Princess' Pengrattana is a freelance writer at ScandAsia.

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