PTT Exploration and Production Plc (PTTEP), Thailand's biggest petroleum explorer, posted a record net profit of 57.3 billion baht last year on its highest-ever sales volume and increased prices.
Tevin Vongvanich, the president and chief executive, said the PTT Plc subsidiary saw net income surge 26% from 44.8 billion baht in 2011. Revenue totalled 218 billion baht, up by 26% from 2011, he said yesterday in a statement.
Average sales price rose to US$64.86 per barrel of oil equivalent (BOE) from $55.49 in 2011. Sales volume hit a record high of 275,923 BOE a day compared with 265,047 in 2011, on higher output from the Bongkot South field and projects in Vietnam.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.