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  • PTTEP acquires Partex Holding A strong foothold of expansion in the Middle East as strategically targeted
    édité le 17/06/2019 - Plus de news de "PTTEP" - Voir la fiche entreprise de "PTTEP"


PTTEP acquires Partex Holding A strong foothold of expansion in the Middle East as strategically targeted
PTT Exploration and Production Public Company Limited (PTTEP) announces an acquisition in Partex Holding B.V. worth approximately USD 622 million, enabling the company to be part of the consortium in the largest onshore producing asset in Oman as well as other oil and gas projects in 5 countries. This latest business achievement is paving the way for future investment opportunity in the Middle East.

Phongsthorn Thavisin, PTTEP President and Chief Executive Officer, said PTTEP HK Holding Limited, a subsidiary of PTTEP, has signed a Share Purchase Agreement (SPA) to acquire 100% share of Partex Holding B.V. (Partex) from Calouste Gulbenkian Foundation. Presently, Partex invests in 7 oil and gas projects, covering both upstream and midstream in 5 countries; Oman, the United Arab Emirates (UAE), Kazakhstan, Brazil and Angola, of which Oman and UAE are the key countries of Partex’s investment.

“Partex has invested in Oman’s largest onshore oil field for more than 80 years. This acquisition is not only a gateway for PTTEP to invest in one of the strategic areas of the Middle East’s oil and gas business, but also allows us to create new business partnership with both national oil companies of Oman and UAE, and world-class oil and gas players as we follow our Expand & Execute strategy”, said Phongsthorn.

The acquisition, which is expected to complete by the end of this year, will add petroleum sales volume by 16,000 barrels per day (BPD) as well as proved and probable reserves approximately 65 million barrels of oil equivalent (BOE) according to PTTEP’s working interest.

The key investments under Partex’s portfolio are as follows:

1- The PDO (Block 6) Project, the largest onshore producing oil asset in Oman with considerable petroleum potential. The project, in which Partex holds 2% interest, covers around 100,000 square kilometers or one third of the country’s area. Total oil production volume in 2018 was approximately 610,000 BPD, accounting for around 70% of Oman’s total oil production. Petroleum Development Oman (PDO), the operating consortium, is the operator of the project.
2- The Mukhaizna (Block 53) Project is the large producing oil field in Oman, in which Occidental Petroleum Corporation is the operator. Total oil production volume in 2018 was approximately 120,000 BPD, accounting for around 13% of Oman’s total oil production. At present, Partex holds 1% interest in the project.
3- Oman LNG Project (OLNG) is the only gas liquefaction complex in Oman, consisting of three liquefaction trains with total LNG production capacity of 10.4 million tons per annum (MTPA). Oman LNG LLC is the operator of the OLNG. At present, Partex holds 2% interest in the project.
4- ADNOC Gas Processing Project (AGP) is the largest gas processing complex in Abu Dhabi, UAE, with total capacity of 8 billion cubic feet per day (BCFD) and operated by Abu Dhabi National Oil Company (ADNOC). The gas processing plants in which Partex holds 2% interest have processing capacity of 1.2 BCFD.
5- The Dunga Project is a producing oil field in Kazakhstan with production rate of 15,000 BPD. TOTAL is the operator. At present, Partex holds 20% interest in the project.
6- The Potiguar Project is a producing oil field in Brazil with production volume in 2018 at 300 BPD. At present, Partex holds 50% interest and is the operator of the project.
7- The Block 17/06 Project is the pre-development asset in Angola. The project, operated by TOTAL, is confirmed of the petroleum potential and is on the process of Final Investment Decision (FID). Partex holds 2.5% interest in the project.

About PTTEP

PTTEP is the E&P flagship of the PTT Group, Thailand’s national oil company. PTT Public Company Limited is one of ADNOC’s largest crude oil customers purchasing up to 100,000 barrels of various ADNOC crude grades per day and Thailand is the second largest economy in South-East Asia.


Origine : Communiqué PTTEP

Voir la fiche entreprise de "PTTEP"



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