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  • PTTEP strengthens investment in Oman, signing Exploration and Production Sharing Agreement for Block 12
    édité le 20/02/2020 - Plus de news de "PTTEP" - Voir la fiche entreprise de "PTTEP"


PTTEP strengthens investment in Oman, signing Exploration and Production Sharing Agreement for Block 12
PTT Exploration and Production Public Company Limited (PTTEP), through a wholly-owned subsidiary PTTEP MENA Limited, together with its strategic partner Total E&P Oman Block 12 B.V. signed an Exploration and Production Sharing Agreement (EPSA) for the onshore Block 12 with the Ministry of Oil and Gas of the Sultanate of Oman. This agreement reflects PTTEP’s “Expand” strategy and will strengthen its presence in the Middle East, one of the company’s strategic investment areas, to create long term growth.

Under EPSA for Block 12, PTTEP MENA and Total will realize geological and geophysical studies, 3D seismic surveys and exploration wells during the initial 3-year exploration phase (2020 – 2022).

Phongsthorn Thavisin, PTTEP President and Chief Executive Officer, said “the signing of this Exploration and Production Sharing Agreement for Block 12 strategically strengthens PTTEP exploration investment and presence in Oman which is a high petroleum potential area in the Middle East with a favorable investment climate. The deal will also widen opportunity for PTTEP to further expand investment in the region for long term growth and to partner with a prudent operator that has extensive experience in Oman.”

PTTEP MENA holds 20 percent participating interest in Block 12 and Total, the operator, holds the rest 80 percent. Located in central Oman, Block 12 is a large onshore exploration block with an acreage of around 10,000 square kilometers. The area is of high gas potential and is the focus of the Oman’s government for exploration, development and production.

This investment in Oman is another important milestone for PTTEP following its acquisition of Partex Holding B.V. in 2019 which includes three projects in Oman namely PDO (Block 6), the country’s largest onshore producing oil and gas project; Mukhaizna (Block 53), a large producing onshore oil field; and Oman LNG, the only gas liquefaction complex in Oman.

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.

About Total

Total is a major energy player, which produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is safer, more affordable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.


Origine : Communiqué PTTEP

Voir la fiche entreprise de "PTTEP"



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