You are using an outdated browser and your browsing experience will not be optimal. Please update to the latest version of Microsoft Edge, Google Chrome or Mozilla Firefox. Install Microsoft Edge

March 25, 2020

23rd Round of Petroleum Bidding for Exploration and Production Delayed Indefinitely Due to COVID-19 Outbreak

Subscribe to Updates

The Ministry of Energy has issued an order to delay the 23rd round of bidding for petroleum exploration and production, as reported on the official website of the Department of Mineral Fuels (DMF). The 23rd round of bidding involved three exploration blocks in the Gulf of Thailand, and was previously expected to open in early April 2020, with the DMF set to return their final decision regarding concessions within the end of 2020. The delayed round of bidding would have reportedly been the first round in 13 years.

However, the Ministry of Energy has now announced that the scheduled date for opening up the 23rd round of bidding will now be delayed indefinitely, due to the impact of the COVID-19 outbreak, and due to the global decline in oil prices, both of which might discourage potential investors. In particular, the countermeasures taken to reduce the crossborder spread of COVID-19 have included restrictions on international travel, and foreign companies engaging in the petroleum exploration and production business will face significant difficulties in travelling into Thailand for the time being.

The Director-General of the DMF has announced that the date for the 23rd round of bidding will be delayed until the COVID-19 situation has alleviated, and international travel has returned to normal.

Related Professionals

Industries

Energy

Location

RELATED INSIGHTS​ 

February 14, 2013
In association with Lex Mundi, Practical Law Company has now published the latest edition in its series of guides on how to do business in jurisdictions worldwide. The Thailand chapter, written by attorneys at Tilleke & Gibbins, provides an overview of the legal system and key laws for foreign companies doing business in the Kingdom. Presented in a question-and-answer format, the chapter examines the rules governing foreign investment, business vehicles, employment, tax, competition, intellectual property, marketing agreements, e-commerce, data protection, and product liability.
Read More
September 5, 2012
The Report: Thailand 2012, published by Oxford Business Group, provides an in-depth analysis of different sectors of the Thai economy. Tilleke & Gibbins contributed the legal section of the publication, which examines how Thailand’s legal landscape fosters growth and foreign investment.
Read More
December 23, 2011
This chapter provides an overview of the legal system and key laws for foreign companies doing business in Thailand. Presented in a question-and-answer format, the chapter examines the rules governing foreign investment, business vehicles, employment, tax, competition, intellectual property, marketing agreements, e-commerce, data protection, and product liability.
Read More