Thai PTTEP to invest $16.5 bln in 2011-2015

PTT Exploration and Production Pcl(PTTEP), Thailand's only publicly listed oil explorer, said on Tuesday it would spend 504 billion baht ($16.5 billion) over four years to expand production and boost sales.
The budget was revised to reflect an investment for Canada's oil sands project after the company signed an agreement to buy 40 percent of Statoil's STL.O (STO.N: Quote) interest in the Kai Kos Dehseh project, it said in a statement.
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Source: Reuters