Thai PTTEP receives $3.2 million net profits from Medco in Q1

Thailand energy company PTT Exploration and Production Public Company Limited (PTTEP) said on Friday it had secured net profit of THB 138 million or approximately US$3.27 million during the first quarter of 2003 from its affiliate company PT Medco Energi International Tbk.

PTTEP said its total net profit in this quarter was THB 2,594 million.

PTTEP indirectly holds 34.20 percent interest in Medco through the Mauritus-based investment company New Links Energy Resources Limited.(robert)