By an OGJ Correspondent
BANGKOK, Dec. 30 -- Thai state-controlled PTT Exploration & Production PLC (PTTEP) bought Royal Dutch/Shell Group's entire upstream petroleum assets in Thailand for $205 million, ending Shell's nearly 25-year presence in the country.
The transaction includes Thai Shell's 75% stake in the onshore S1 oil producing block, its 100% interest in the offshore concession B6/27, and its 65% share in onshore tract L22/43 which was licensed in May 2003.
The transaction is expected to close in January.
