BANGKOK Oct 3 PTT Exploration and Production
Pcl, Thailand's largest oil and gas explorer, plans
to invest at least $1.7 billion in 2017 to maintain its
production at the same level as last year, chief executive said.
PTTEP, the upstream exploration business of PTT Pcl
, aims to produce around 323,000 barrels of oil
equivalent per day next year, the same level as last year,
Somporn Vongvuthipornchai told reporters.
Hit by weaker oil prices, PTTEP has focused on cost cutting
and expects its cost per unit to fall by more than 10 percent to
between $31 to $32 a barrel this year after a decline to $29 to
$30 a barrel in the first half, he said.
(Reporting by Khettiya Jittapong; Editing by Christian