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Thai Oil Firm Rejects Bribery, Transparency Allegations

14 August 2013

A Thai oil company has denied a report that called into question the transparency of the firm’s operations and alleged that bribery played a part in its winning of two oil blocks auctioned off in Burma. The Bangkok Post reported on Wednesday that PTT Exploration and Production (PTTEP) was responding to a report on the Myanmar Times’ website. “We strictly adhere to transparency when doing business,” PTTEP chief executive Tevin Vongvanich was quoted as saying on Tuesday. The company was awarded the deep-sea MD7 and MD8 blocks in the Martaban Sea earlier this year.