Thai PTTEP receives $7.6 million net profit from Medco in Q2

Thailand energy company PTT Exploration and Production Public Company Limited (PTTEP) reported on Thursday that net profit from its affiliate company PT Medco Energi International Tbk had reached Baht 319 million (around US$7.64 million) in the second quarter of 2003.

Compared to previous quarter, this quarter's figure of net profit was 2.31 times higher.

PTTEP reported its total net profit in this quarter was Baht 6,144 million.

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