PTTEP Diluted its Shares in Offshore Assets in Indonesia

Source: www.gulfoilandgas.com 1/13/2012, Location: Asia

PTT Exploration and Production Public Company Limited (PTTEP) announced that it has agreed to dilute its share in three deep-offshore exploration blocks in the Makassar Strait in Indonesia to Total, French oil company.

The farm-out agreement includes the dilution of PTTEP’s 33% share in South Mandar block and 10% share in Sadang block together with 10% share in South Sageri block. PTTEP now holds: 34% share and remains the operator in South Mandar block, with Talisman (33%) and Total (33%); 30% share in Sadang block, with Talisman (40% and Operator) and Total (30%); and 20% share in South Sageri block, with Talisman (35% and Operator) and Total (45%).

Mr. Anon Sirisaengtaksin, PTTEP’s President and CEO, said that the dilution in exploration blocks is one of PTTEP strategies to manage our exploration portfolio. PTTEP believes that Total, PTTEP’s long time strategic partner in the Gulf of Thailand, will bring its recognized worldwide deep-offshore technology and experiences to their assets in Indonesia.

In Indonesia, PTTEP also owns 100% interest of Malunda block in the Makassar Strait and a 28.33% interest of Semai II block, offshore southwest of West Papua, in partnership with Murphy, INPEX and Pertamina.


Brazil >>  8/3/2022 - Petrobras, following up on the release disclosed on 01/29/2021, informs that yesterday it has finalized the sale of all its stakes in the producing fi...
South Korea >>  8/3/2022 - The MunmuBaram project off the south-east coast of South Korea is one of the biggest planned floating wind farms in the world and is set to play a sig...

United Kingdom >>  8/3/2022 - Orcadian Energy (AIM:ORCA), the low-emissions North Sea oil and gas development company, is pleased to announce that, further to the announcement of 1...
United States >>  8/3/2022 - Enterprise Products Partners L.P. (EPD) announced three organic growth projects to expand its footprint in the Permian Basin to support ongoing produc...

Nigeria >>  8/1/2022 - Panoro Energy ASA is pleased to announce the declaration of its first dividend (the "Dividend") following recent completion of the transaction to dive...
Russia >>  8/1/2022 - Baker Hughes (BKR) has signed an agreement to sell its Oilfield Services business in Russia (“OFS Russia”) to its local management team. The agreement...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.