PTTEP agrees to acquire Partex Holdings

PTT Exploration & Production Co. has signed an agreement to acquire 100% of Partex Holding from the Calouste Gulbenkian Foundation of Portugal for as much as $622 million.

Jun 19th, 2019

PTT Exploration & Production Co. Ltd., Bangkok, has signed an agreement to acquire 100% of Partex Holding BV, Lisbon, from the Calouste Gulbenkian Foundation of Portugal for as much as $622 million.

The deal, expected to close by yearend, will boost the Thai company’s net-interest production by 16,000 b/d of oil and reserves by 65 million boe of oil and gas.

PTT E&P will acquire:

• A 2% interest in Petroleum Development Oman’s Block 6 project in Oman, where total production last year was 610,000 b/d of oil.

• A 1% interest in Mukhaizna oil field, which produces 120,000 b/d of oil on Oman’s Block 53 operated by Occidental Petroleum Corp.

• A 2% interest in the 10.4-million-tonne/year gas liquefaction complex operated by Oman LNG LLC.

• A 2% interest in ADNOC Gas Processing plants in Abu Dhabi with capacities of 1.2 bcfd.

• A 20% interest in Total SA’s Dunga oil field in Kazakhstan, which produces 20,000 b/d of oil.

• A 50% operated interest in Potiguar oil field in Brazil with production of 300 b/d of oil.

• A 2.5% interest in the Block 17/06 Project under consideration for development by operator Total in Angola.

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