Petroleum bidding unchanged

However, precautions have to be taken regarding the legal conditions for the bidding, General Prayut Chan-o-cha said.
Petroleum exploration projects take five to six years, and companies with concessions need some time to raise funds and make investments, he said.
In response to Democrat Party leader Abhisit Vejjajiva co-signing a letter to the prime minister urging postponement of the concession bid, Prayut said the Energy Ministry would hold discussions with those who raised objections.
“I do not mean to be stubborn. But we have to show facts and figures on layers of soil and stones. And are we ready to do it ourselves? We have to talk about this to those who have raised these objections,” said Prayut, adding he wanted to make them understand the situation.
He said that if locally produced petroleum became scarce, Thailand might have to import it at higher prices. Locally produced gas is priced at about Bt200 per British thermal unit, while prices of gas from other countries are Bt300-Bt400 per BTU.
Thailand should find energy sources to replace those that are diminishing, Prayut said. If petroleum sources are tapped out block by block over the next five years and new concessions could not be opened this year, Thailand could be forced to import more and more oil and gas at high prices.
“I listen to all. But I also have scientific agencies to make clarifications about oil. Don’t make me decide. I will not be going to talk to them myself,” Prayut said.