PTTEP buys Royal Dutch/Shell's Thai upstream assets
Dec. 30, 2003
Thai state-controlled PTT Exploration & Production PLC (PTTEP) bought Royal Dutch/Shell Group's entire upstream petroleum assets in Thailand for $205 million.
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.
