The upcoming auction of the Erawan and Bongkot gas blocks in the Gulf of Thailand is delightful news for major energy producers following a series of extensive delays. The auction also represents the importance of energy security for Thailand going forward, as energy consumption is poised to rise while the country's oil reserves dwindle.
After the terms of reference (ToR) for the auction were announced, several exploration and production conglomerates were interested in opportunity.
Determination of the winning bidders will likely boil down to the bidders' qualifications, expertise and the shared benefit of energy resources with the state.
