Thailand Oil and Gas Markets Investment Opportunities, Analysis and Forecasts to 2020

Table of Contents

1 Table of Contents 2
1.1 List of Tables 10
1.2 List of figures 13
2 Introduction 14
2.1 What Is This Report About? 14
2.2 How To Use This Report 15
2.3 Market Definition 15
3 Thailand Energy Sector 17
3.1 Thailand Energy Sector, Market Overview 17
3.2 Thailand Energy Sector, Crude Oil 18
3.2.1 Thailand Crude Oil, Overview 18
3.2.2 Thailand Crude Oil, Supply and Demand Balance 18
3.2.3 Thailand Crude Oil, Regulatory Structure 24
3.3 Thailand Energy Sector, Natural Gas 25
3.3.1 Thailand Natural Gas, Overview 25
3.3.2 Thailand Natural Gas, Supply and Demand Balance 25
3.3.3 Thailand Natural Gas, Regulatory Structure 31
3.3.4 Thailand Natural Gas, Infrastructure 32
3.4 Thailand Energy Sector, Coal 32
3.4.1 Thailand Coal, Overview 32
3.4.2 Thailand Coal, Supply and Demand Balance 32
3.5 Thailand Energy Sector, Electricity 36
3.5.1 Thailand Electricity, Overview 36
3.5.2 Thailand Electricity, Supply and Demand Balance 38
3.5.3 Thailand Electricity, Regulatory Structure 44
3.5.4 Thailand Electricity, Infrastructure 45
4 Thailand Fiscal Regime 46
4.1 Thailand Petroleum Fiscal Environment 46
4.2 License Terms 46
4.3 Key Fiscal Terms 47
4.4 Sample Cashflows Calculations 50
5 Thailand Upstream Investment Environment Benchmarking 51
5.1 Introduction 51
5.2 The Overall Ranking 51
5.3 Upstream Fiscal Attractiveness 51
5.3.1 Maximum Government Take Index 53
5.3.2 Maximum State Participation 53
5.4 Oil and Gas Sector Performance 54
5.4.1 Exploration Activity 56
5.4.2 Oil and Gas Production 57
5.4.3 Oil and Gas Reserves 57
5.4.4 Consumption 58
5.4.5 Refining Industry 58
5.5 Economic Performance 58
5.5.1 GDP Growth Index 60
5.5.2 FDI Confidence Index 60
5.5.3 Balance of Trade Index 60
5.6 Socio-Political Performance 60
5.6.1 Democracy Index 62
5.6.2 Governance Index 62
6 Thailand Exploration And Production Sector 63
6.1 Thailand Exploration and Production Sector, Country Snapshot 63
6.1.1 Thailand Exploration and Production Sector, Key Data 63
6.1.2 Thailand, Exploration And Production Assets Map 64
6.1.3 Thailand, Crude Oil & Natural Gas Reserves 65
6.2 Thailand, Crude Oil And Natural Gas Production 67
6.2.1 Thailand, Historical Crude Oil Production 67
6.2.2 Thailand, Historical Natural Gas Production 68
6.2.3 Thailand, Crude Oil And Natural Gas Producing Asset Details 69
6.2.4 Thailand, Crude Oil Producing Assets By Area 72
6.2.5 Thailand, Natural Gas Production Assets By Area 74
6.2.6 Thailand, Planned Production Assets Details 75
6.2.7 Thailand, Crude Oil Production By Company 76
6.2.8 Thailand, Natural Gas Production By Company 77
6.3 Thailand, Crude Oil And Natural Gas Forecasts 77
6.3.1 Thailand, Forecasted Crude Oil Production 77
6.3.2 Thailand, Forecasted Crude Oil Production 78
6.3.3 Thailand, Forecasted Crude Oil Production Of Key Assets 78
6.3.4 Thailand, Forecasted Natural Gas Production of Key Assets 79
6.3.5 Thailand, Forecasted Asset Wise Gross Revenues 79
6.3.6 Thailand, Forecasted Asset Wise Total Government Take 80
6.3.7 Thailand, Forecasted Asset Wise Income Tax 81
6.3.8 Thailand, Forecasted Asset Wise Contractor Take 82
6.4 Thailand, Exploration Block Details 83
6.4.1 Thailand, Total Number of Active Exploration Blocks 83
6.4.2 Thailand, Total Number of Active Exploration Blocks By Company 84
6.4.3 Thailand, Exploration Blocks Details 85
7 Thailand Refining Sector 89
7.1 Thailand Refining Sector, Overview 89
7.2 Thailand Refining Sector, Crude Distillation Unit Capacity 89
7.3 Thailand Refining Sector, Fluid Catalytic Cracking Capacity 90
7.4 Thailand Refining Sector, Hydrocracking Capacity 90
8 Thailand Pipeline Sector 91
8.1 Thailand Pipeline Sector, Overview 91
8.2 Thailand Pipeline Sector, Petroleum Product Pipelines 91
8.3 Thailand Pipeline Sector, Natural Gas Pipelines 92
9 BG Group plc 94
9.1 BG Group plc, Key Information 94
9.2 BG Group plc, Company Overview 94
9.3 BG Group plc, Business Description 94
9.3.1 BG Group plc, Business Description, Business Overview 94
9.3.2 BG Group plc, Business Description, Exploration and Production 94
9.3.3 BG Group plc, Business Description, Liquefied Natural Gas 95
9.3.4 BG Group plc, Business Description, Power and Other activities 96
9.3.5 BG Group plc, Business Description, Transmission and Distribution 97
9.3.6 BG Group plc, Business Description, Major Products and Services 98
9.4 BG Group plc, VALUE CHAIN ANALYSIS 99
9.4.1 BG Group plc, VALUE CHAIN ANALYSIS, Upstream 99
9.4.2 BG Group plc, VALUE CHAIN ANALYSIS, Midstream 100
9.4.3 BG Group plc, VALUE CHAIN ANALYSIS, Downstream 100
9.5 BG Group plc, SWOT Analysis 101
9.5.1 BG Group plc, SWOT Analysis, Overview 101
9.5.2 BG Group plc, SWOT Analysis, Strengths 101
9.5.3 BG Group plc, SWOT Analysis, Weaknesses 102
9.5.4 BG Group plc, SWOT Analysis, Opportunities 103
9.5.5 BG Group plc, SWOT Analysis, Threats 103
9.6 BG Group plc, Revenue Analysis 104
9.6.1 BG Group plc, Revenue Analysis, Revenue by Segment 104
9.6.2 BG Group plc, Revenue Analysis, Revenue by Geography 105
9.7 BG Group plc, Financial and Operational Review 106
9.7.1 BG Group plc, Financial and Operational Review, Financial Statements 106
9.7.2 BG Group plc, Financial and Operational Review, Financial Ratios 107
9.8 BG Group plc, Operational Indicators 108
10 Hess Corporation 109
10.1 Hess Corporation, Key Information 109
10.2 Hess Corporation, Company Overview 109
10.3 Hess Corporation, Business Description 109
10.3.1 Hess Corporation, Business Description, Business Overview 109
10.3.2 Hess Corporation, Business Description, Exploration and Production 110
10.3.3 Hess Corporation, Business Description, Marketing and Refining 111
10.3.4 Hess Corporation, Business Description, Major Products and Services 112
10.4 Hess Corporation, VALUE CHAIN ANALYSIS 113
10.4.1 Hess Corporation, VALUE CHAIN ANALYSIS, Upstream 113
10.4.2 Hess Corporation, VALUE CHAIN ANALYSIS, Midstream 114
10.4.3 Hess Corporation, VALUE CHAIN ANALYSIS, Downstream 114
10.4.4 Hess Corporation, VALUE CHAIN ANALYSIS, Retail 115
10.5 Hess Corporation, SWOT Analysis 115
10.5.1 Hess Corporation, SWOT Analysis, Overview 115
10.5.2 Hess Corporation, SWOT Analysis, Strengths 116
10.5.3 Hess Corporation, SWOT Analysis, Weaknesses 117
10.5.4 Hess Corporation, SWOT Analysis, Opportunities 118
10.5.5 Hess Corporation, SWOT Analysis, Threats 118
10.6 Hess Corporation, Revenue Analysis 120
10.6.1 Hess Corporation, Revenue Analysis, Revenue by Segment 120
10.6.2 Hess Corporation, Revenue Analysis, Revenue by Geography 120
10.7 Hess Corporation, Financial and Operational Review 122
10.7.1 Hess Corporation, Financial and Operational Review, Financial Statements 122
10.7.2 Hess Corporation, Financial and Operational Review, Financial Ratios 123
10.8 Hess Corporation, Operational Indicators 124
11 TOTAL S.A. 125
11.1 TOTAL S.A, Key Information 125
11.2 TOTAL S.A, Company Overview 125
11.3 TOTAL S.A, Business Description 125
11.3.1 TOTAL S.A, Business Description, Business Overview 125
11.3.2 TOTAL S.A, Business Description, Chemicals 126
11.3.3 TOTAL S.A, Business Description, Downstream 126
11.3.4 TOTAL S.A, Business Description, Upstream 128
11.3.5 TOTAL S.A, Business Description, Major Products and Services 129
11.4 TOTAL S.A, VALUE CHAIN ANALYSIS 131
11.4.1 TOTAL S.A, VALUE CHAIN ANALYSIS, Upstream 131
11.4.2 TOTAL S.A, VALUE CHAIN ANALYSIS, Midstream 132
11.4.3 TOTAL S.A, VALUE CHAIN ANALYSIS, Downstream 132
11.4.4 TOTAL S.A, VALUE CHAIN ANALYSIS, Retail 133
11.5 TOTAL S.A, SWOT Analysis 134
11.5.1 TOTAL S.A, SWOT Analysis, Overview 134
11.5.2 TOTAL S.A, SWOT Analysis, Strengths 135
11.5.3 TOTAL S.A, SWOT Analysis, Weaknesses 135
11.5.4 TOTAL S.A, SWOT Analysis, Opportunities 136
11.5.5 TOTAL S.A, SWOT Analysis, Threats 137
11.6 TOTAL S.A, Revenue Analysis 138
11.6.1 TOTAL S.A, Revenue Analysis, Revenue by Segment 138
11.6.2 TOTAL S.A, Revenue Analysis, Revenue by Geography 138
11.7 TOTAL S.A, Financial and Operational Review 140
11.7.1 TOTAL S.A, Financial and Operational Review, Financial Statements 140
11.7.2 TOTAL S.A, Financial and Operational Review, Financial Ratios 141
11.8 TOTAL S.A, Operational Indicators 142
12 Financial Deals Landscape 144
12.1 IPO 144
12.1.1 Esso (Thailand) Prices Initial Public Offering 144
12.1.2 Siemens Forms Partnership With PTT Public Company 145
12.2 Asset Transactions 146
12.2.1 Horizon Oil To Acquire 20% Stake In Three Offshore Thai Exploration Concessions From Pearl Energy 146
12.2.2 Salamander Energy To Acquire Interest In Champasak & Saravan PSC From PetroVietnam 148
12.2.3 PetroVietnam To Acquire Interest In Savannakhet PSC From Salamander Energy 149
13 Recent Developments 151
13.1 License Rounds 151
13.1.1 Mar 20, 2008: Bangladesh Sees Good Interest From Oil Firms In Gas Blocks Auction 151
13.2 License Awards 151
13.2.1 Jun 21, 2008: Coastal Receives Permission To Begin Oil Production From Songkhla Field 151
13.2.2 Jun 20, 2008: PTTEP To Sign HOA With Myanmar To Develop M9 Gas Field 152
13.2.3 Jun 09, 2008: Coastal Receives Government Approval To Develop Songkhla Field 152
13.2.4 Feb 25, 2008: Bapco To Award E&P Contract To PTTEP 152
13.3 Strategy and Business Expansion 153
13.3.1 May 08, 2008: PTTEP To Develop New LNG Plant 153
13.3.2 May 08, 2008: Chevron To Begin Constructing Platong Gas Project In Thailand 154
13.3.3 Mar 13, 2008: Chevron To Expand Gas Energy Into Thailand 154
13.3.4 Mar 10, 2008: Chevron To Construct Platong Gas II Natural Gas Project 154
13.4 Recent Discoveries 155
13.4.1 Jul 18, 2008: Carnarvon Announces New Oil Discovery At NSE-A1 Flows At 1,245 Bopd 155
13.5 Drilling and Production Updates 157
13.5.1 Jul 09, 2008: Carnarvon Provides Drilling Update In Thailand 157
13.5.2 Jul 09, 2008: SPC And Partners Drill Exploration Well In Cambodia 158
13.5.3 Jun 20, 2008: PTTEP Updates On Arthit Field Production 158
13.5.4 May 07, 2008: PTTEP To Double Its Output In Five Years 158
13.5.5 May 07, 2008: Carnarvon Provides Operational Update 159
13.5.6 May 06, 2008: Coastal Updates On South Phu Horm Well 160
13.5.7 May 06, 2008: Salamander Updates On SPH-1 Well 161
13.5.8 Apr 22, 2008: Carnarvon Provides Thailand Drilling Operations Update 161
13.5.9 Mar 27, 2008: PTTEP' s Arthit Project Commences Natural Gas Production 162
13.5.10 Mar 04, 2008: Carnarvon Provides Operational Update 163
13.5.11 Feb 27, 2008: GFI Updates On Drilling Results At Bualuang Field 163
13.5.12 Feb 18, 2008: Coastal Provides Thailand Drilling Update 164
13.5.13 Feb 04, 2008: Coastal Provides Thailand Drilling Update 164
13.5.14 Feb 04, 2008: Salamander Provides Dong Mun Appraisal Update 165
13.6 Financial Announcements 165
13.6.1 Jul 25, 2008: PTTEP Reports 2Q 2008 Results 165
13.6.2 May 12, 2008: Bangchak Reports Q1 2008 Results 166
13.6.3 May 08, 2008: PTTEP Declares Q1 2008 Results 166
13.6.4 Feb 14, 2008: PTTEP Declares 2007 Results 167
13.7 Other Significant Developments 168
13.7.1 Jul 25, 2008: Carnarvon Updates On NSE-A3 And NSE-A4 Wells In Thailand 168
13.7.2 Jul 07, 2008: PTT Unveils $125.6 Billion Investment Programme 169
13.7.3 Jun 13, 2008: Carnarvon Provides Thailand Operations And Drilling Update 170
13.7.4 Jun 12, 2008: Pan Orient Provides Operational Updates 172
13.7.5 May 27, 2008: POE Provides Thailand Operational Update 174
13.7.6 May 02, 2008: PTT To Import LNG From Tangguh Project 175
13.7.7 Apr 04, 2008: Esso To Spend $400 Million To Upgrade Its Refinery 175
13.7.8 Mar 12, 2008: Total To Invest $1Billion In Bongkot Field 176
13.7.9 Mar 10, 2008: Thailand Seeks Energy Trade, Investment In Upstream And Downstream Projects 176
13.7.10 Feb 28, 2008: Carnarvon Updates On L20/50 Concession, Onshore Thailand 176
13.8 New Contracts Announcements 177
13.8.1 Feb 05, 2008: M3nergy Gets Contract For CPOC Project 177
14 Appendix 178
14.1 Methodology 178
14.1.1 Coverage 178
14.1.2 Secondary Research 179
14.1.3 Primary Research 179
14.1.4 Forecasts 180
14.1.5 Expert Panel Validation 182
14.2 Definitions 183
14.3 Unit of Measure 184
14.4 Contact Us 184
14.5 About Global Markets Direct 184
14.6 Disclaimer 184
1.1 List of Tables
Table 1: Thailand, Historical and Forecasted Production and Consumption of Crude Oil, 1996-2020 19
Table 2: Thailand, Historical and Forecasted Imports of Crude Oil And Exports, 1996-2020 21
Table 3: Thailand, Historical and Forecasted Reserves of Crude Oil, 1996-2020 23
Table 4: Thailand, Historical and Forecasted Production and Consumption of Natural Gas, 1996-2020 26
Table 5: Thailand, Historical and Forecasted Imports of Natural Gas, 1996-2020 28
Table 6: Thailand, Historical and Forecasted Reserves of Natural Gas, 1996-2020 30
Table 7: Thailand, Historical and Forecasted Coal Production And Consumption of Coal, 1996-2020 33
Table 8: Thailand, Historical and Forecasted Imports of Coal, 1996-2020 35
Table 9: Thailand, Historical and Forecasted Electricity Generation Capacity, 1996-2020 39
Table 10: Thailand, Historical and Forecasted Generation and Consumption of Electricity, 1996-2020 41
Table 11: Thailand, Historical and Forecasted Imports and Exports of Electricity, 1996-2020 43
Table 12: Thailand, Crude Oil and Natural Gas, Royalty Rates, 2007 48
Table 13: Thailand, Crude Oil and Natural Gas, Special Remuneratory Benefit, 2007 48
Table 14: South Asia, Investment Benchmarking, Overall Country Rankings, April 2008 51
Table 15: South Asia, Investment Benchmarking, Upstream Fiscal Attractiveness, April 2008 52
Table 16: South Asia, Investment Benchmarking, Oil and Gas Sector Performance, April 2008 54
Table 17: South Asia, Investment Benchmarking, Economic Performance, April 2008 59
Table 18: South Asia, Investment Benchmarking, Socio-Political Performance, April 2008 61
Table 19: Thailand, Oil and Gas, Key Statistics, April 2008 63
Table 20: Thailand, Total Crude Oil and Natural Gas Reserves(MMBOE), 2000-2012 66
Table 21: Thailand, Total Crude Oil Production (MMBBLs), 2000-2007 67
Table 22: Thailand, Total Natural Gas Production (BCF), 2000-2007 68
Table 23: Thailand, Oil and Gas Assets Details, April 2008 69
Table 24: Thailand, Oil and Gas Assets Details, April 2008 (Cont' d) 70
Table 25: Thailand, Oil and Gas Assets Details, April 2008 (Cont' d) 71
Table 26: Thailand, Oil and Gas Assets Details, April 2008 (Cont' d) 72
Table 27: Central Plain, Total Crude Oil Production (Barrels), by Assets, 2000-2007 72
Table 28: Thailand Offshore, Total Crude Oil Production (Barrels), by Assets, 2000-2007 73
Table 29: Thailand Onshore, Total Crude Oil Production (Barrels), by Assets, 2000-2007 73
Table 30: Central Plain, Total Natural Gas Production (BCF), by Assets, 2000-2007 74
Table 31: Thailand Offshore, Total Natural Gas Production (BCF), by Assets, 2000-2007 74
Table 32: Thailand Onshore, Total Natural Gas Production (BCF), by Assets, 2000-2007 75
Table 33: Thailand, Oil and Gas Planned Production Assets Details, April 2008 75
Table 34: Thailand, Total Crude Oil Production (MMBBLs), by Company, 2000-2007 76
Table 35: Thailand, Total Natural Gas Production (BCF), by Company, 2000-2007 77
Table 36: Thailand, Total Crude Oil Production (MMBBLs), Forecast, 2008-2013 77
Table 37: Thailand, Total Natural Gas Production (BCF), Forecast, 2008-2013 78
Table 38: Thailand, Total Crude Oil Production (MMBBLs), Forecast by Assets, 2008-2013 78
Table 39: Thailand, Total Natural Gas Production (BCF), Forecast by Assets, 2008-2013 79
Table 40: Thailand, Forecasted Assets-wise Gross Revenue (000' $), 2008-2013 79
Table 41: Thailand, Forecasted Assets-wise Gross Revenue (000' $), 2008-2013 (Cont' d) 80
Table 42: Thailand, Forecasted Assets-wise Government Take (000' $), 2008-2013 80
Table 43: Thailand, Forecasted Assets-wise Income Tax (000' $), 2008-2013 81
Table 44: Thailand, Forecasted Assets-wise Contractor Take (000' $), 2008-2013 82
Table 45: Thailand, Total Number of Active Exploration Blocks, 2000-2007 83
Table 46: Thailand, Total Number of Active Exploration Blocks by Company, 2000- 2007 84
Table 47: Thailand, Oil and Gas Exploration Blocks Details, April 2008 85
Table 48: Thailand, Oil and Gas Exploration Blocks Details, April 2008 (Cont' d) 86
Table 49: Thailand, Oil and Gas Exploration Blocks Details, April 2008 (Cont' d) 87
Table 50: Thailand, Oil and Gas Exploration Blocks Details, April 2008 (Cont' d) 88
Table 51: Thailand, Asia-Pacific, Crude Distillation Unit Capacity (MMTPA), 2000-2012 89
Table 52: Thailand, Asia-Pacific, Fluid Catalytic Cracking Unit Capacity (MMTPA), 2000-2012 90
Table 53: Thailand, Asia-Pacific, Hydrocracking Unit Capacity (MMTPA), 2000-2012 90
Table 54: Thailand, Petroleum Product Pipelines , 2007 91
Table 55: Thailand, Natural Gas Pipelines , 2007 92
Table 56: BG Group plc,Key Facts, 2006 94
Table 57: BG Group plc, SWOT Analysis , 2006 101
Table 58: BG Group plc, Revenue by Segment, GBP Milllion, 2002-2006 104
Table 59: BG Group plc, Revenue by Geography, GBP Milllion, 2002-2006 105
Table 60: BG Group plc, Financial Statements, GBP Milllion, 2002-2006 106
Table 61: BG Group plc, Financial Ratios, GBP Milllion, 2002-2006 107
Table 62: BG Group plc Operational Indicators, 2002-2006 108
Table 63: Hess Corporation,Key Facts, 2007 109
Table 64: Hess Corporation, SWOT Analysis , 2007 116
Table 65: Hess Corporation, Revenue by Segment, USD Million, 2002-2006 120
Table 66: Hess Corporation, Revenue by Geography, USD Million, 2002-2006 121
Table 67: Hess Corporation, Financial Statements, USD Million, 2003-2007 122
Table 68: Hess Corporation, Financial Ratios, USD Million, 2003-2007 123
Table 69: Hess Corporation Operational Indicators, 2003-2007 124
Table 70: TOTAL S.A.,Key Facts, 2007 125
Table 71: TOTAL S.A., SWOT Analysis , 2007 134
Table 72: TOTAL S.A., Revenue by Segment, Euro Million, 2003-2007 138
Table 73: TOTAL S.A., Revenue by Geography, Euro Million, 2003-2007 139
Table 74: TOTAL S.A., Financial Statements, Euro Million, 2003-2007 140
Table 75: TOTAL S.A., Financial Ratios, Euro Million, 2003-2007 141
Table 76: TOTAL S.A. Operational Indicators, 2003-2007 142
Table 77: TOTAL S.A. Operational Indicators, 2003-2007 143
Table 78: Brent Blend NYMEX Future Prices 182
1.2 List of figures
Figure 1: Thailand, Energy Sector break-up, 2007 17
Figure 2: Thailand, Crude Oil Production And Consumption, Thousand Barrels Per Day, 1996-2020 20
Figure 3: Thailand, Crude Oil Imports And Exports, Thousand Barrels Per Day, 1996-2020 22
Figure 4: Thailand, Crude Oil Reserves, Million Barrels, 1996-2020 24
Figure 5: Thailand, Natural Gas Production And Consumption, Billion Cubic Feet, 1996-2020 27
Figure 6: Thailand, Natural Gas Imports And Exports, Billion Cubic Feet, 1996-2020 29
Figure 7: Thailand, Natural Gas Reserves, Billion Cubic Feet, 1996-2020 31
Figure 8: Thailand, Coal Production And Consumption, Billion Tons, 1996-2020 34
Figure 9: Thailand, Coal Imports, Million Tons, 1996-2020 36
Figure 10: Thailand, Electricity Production by Fuel Type, 2007 37
Figure 11: Thailand, Electricity Consumption by End User, 2007 38
Figure 12: Thailand, Electricity Generation Capacity, Billion Kilowatt Hours, 1996-2020 40
Figure 13: Thailand, Electricity Generation And Consumption, Billion Kilowatt Hours, 1996-2020 42
Figure 14: Thailand, Electricity Imports And Exports, Billion Kilowatt Hours, 1996-2020 44
Figure 15: South Asia, Country Standings, Upstream Fiscal Attractiveness, April 2008 53
Figure 16: South Asia, Country Standings, Oil and Gas Sector Performance, April 2008 55
Figure 17: South Asia, Country Standings, Oil and Gas Sector Performance, April 2008 (Contd.) 56
Figure 18: South Asia, Country Standings, Number of Active Exploration Blocks Made Active, April 2008 57
Figure 19: South Asia, Country Standings, Economic Performance, April 2008 59
Figure 20: South Asia, Country Standings, Socio-Political Performance, April 2008 61
Figure 21: Thailand, Exploration and Production Assets Map, April 2008 64
Figure 22: Thailand, Total Crude Oil and Natural Gas Reserves(MMBOE), 2000-2012 65
Figure 23: Thailand, Total Crude Oil Production (MMBBLs), 2000-2007 67
Figure 24: Thailand, Total Natural Gas Production (BCF), 2000-2007 68
Figure 25: Thailand, Total Number of Active Exploration Blocks, 2000-2007 83
Figure 26: BG Group plc, Value Chain Analysis 99
Figure 27: Hess Corporation, Value Chain Analysis 113
Figure 28: TOTAL S.A., Value Chain Analysis 131
Figure 29: Global Markets Direct Methodology 178