UTC and its partners last year invested around US$300 million when production of their low-sulphur crude was around 19,000 bpd.

UTC chairman, Randy Howard, told media the company wants to double the 20,000 bpd that it currently produces. “We will put a lot more investment on our increasing oil production, in new facilities, new wells,” said Howard. He did add, however, that UTC’s gas production for this year would remain at the 1.1 billion cubic feet per day mark.

UTC’s partners in the SE Asian country include PTT Exploration and Production PCL, Mitsui Oil Exploration Co and Amerada Hess Corp.