Oil and gas in the capitals ///

The oil price downturn in just a few months’ time has forced energy companies to shelve high-risk projects and cut work forces to maintain profitability. Governments and state-owned energy companies, however, are not driven wholly by profit; they have national interests in mind, as well. In this regard, the E&P “coping strategies” of Thailand, Indonesia, Myanmar, Malaysia and Vietnam provide an interesting picture of the upstream environment for Southeast Asia during 2015. Thailand. Bangkok announced on Feb. 14 that it would hold its 21st round of oil and gas concession bidding, with applications due by March 16. Thailand is offering 29 blocks: 23 onshore, and six offshore. So far, the French government has guaranteed that Total will participate. Additionally, Bangkok said it was switching from petroleum concessions to a PSC system for the bidding—the latter will reap more state revenues.

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