PTTEP Acquires Stake in Block G 12/48 Project to Expand Investment Base
Bangkok, Thailand – PTT Exploration and Production Company (PTTEP) has announced its subsidiary’s signing of a significant agreement to acquire a 33.3333% stake in the remarkable natural gas and condensate production project, Block G 12/48. The project, located in the Gulf of Thailand, aligns with PTTEP’s strategic objective of expanding its investment base in the country.
On September 1, 2023, PTTEP International (PTT. ONEPI), a prominent subsidiary of PTTEP, signed a comprehensive purchase and sale agreement with Thailand’s TotalEnergies EP. The completion of this acquisition is subject to government approval and is expected to finalize in 2023, following which PTTEPI will emerge as the project’s operator with a 100% investment.
Encompassing an area of approximately 37 square kilometers, Block G 12/48 has significant potential for natural gas and condensate production. Through this acquisition, PTTEP reinforces its commitment to strengthening its presence in Thailand, focusing on expanding its investment portfolio within the country.
As part of its long-term investment plan, the acquisition of the stake in Block G 12/48 project underscores PTTEP’s strategic approach to sustainable growth and its determination to venture into key areas that propel the company’s overall success.
HoonSmart.com > > “PTTEP” (PTTEP) sent a subsidiary Signing a contract to buy a 33.3333% stake in Block G 12/48, a natural gas and condensate production project. located off the coast of the Gulf of Thailand Support a 100% investment share according to the plan to expand the investment base in the country One of PTTEP’s strategic areas.
PTT Exploration and Production Company (PTTEP) or PTTEP disclosed that on September 1, 2023, PTTEP International (PTT. ONEPI), a subsidiary of PTTEP, signed the purchase and sale agreement. to acquire a 33.3333% stake in block G12/48 from Thailand’s TotalEnergies EP.
The acquisition will be completed after approval from the government. It is expected to be completed by 2023 and after the acquisition will lead to PTTEPI. who is an operator Get 100% investment.
Block G12/48 is a natural gas and condensate production project. Located off the coast of the Gulf of Thailand covering an area of approximately 37 square kilometers. The acquisition of the said project share This is in line with PTTEP’s investment plan which focuses on expanding its investment base in Thailand. which is one of PTTEP’s strategic areas
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