The PTTEP (PTTEP) exploration and manufacturing has acquired a full possession of the A-18 marine gasoline bloc within the joint improvement space between Malaysia-Tayland (MTJDA) by acquiring a 50 % taking part curiosity.
This step will improve vitality safety in Thailand and help the PTTEP progress path.
Block A-18 of MTJDA is essential to generate electrical energy within the southern area of Thailand.
This curiosity was obtained by the PTTEP firm, PTTEP Combor Improvement SG from the Hess Worldwide Oil Company, which has a 50 % curiosity within the A-18 block from MTJDA via its subsidiaries below the SPA).
The acquisition, with the fundamental consideration of $ 450 million in normal changes, follows Integration between Chevron and HessWith each sellers, HESS (Bahamas) Restricted and HESS Asia Holdings, as they’re totally owned Chevron.
The remedy, which is now accomplished, instantly will increase the amount of gasoline manufacturing in PTTEP and petroleum reserves, and the corporate’s funding in MTJDA doubles, which will increase its present curiosity by 50 % within the B-17-01 block.
Block A-18 presently produces 600 million normal cubic toes of pure gasoline per day (MSCF/D), whereas offering half this dimension for Thailand, and represents 6 % of the demand for native gasoline within the nation.
The corporate may also develop extra manufacturing wells and properly -head platforms and construct gasoline pipelines, guaranteeing secure and dependable gasoline provides.
“PTTEP is happy to increase our operations in MTJDA, which has been acknowledged for its petroleum capabilities and its strategic significance for vitality safety in Thailand. The acquisition additionally contributes to the corporate’s progress,” mentioned Pttep Montry Rawanchaikul.
“Whatever the present manufacturing fields, Block A-18 consists of many found gasoline fields pending improvement to cancel their full potential. Participation in Block A-18 enhances operational synergy with B-17-01 block, which reinforces effectivity to make sure steady vitality provides and accelerating each international locations.”
Mtjda, positioned within the southern a part of the Gulf of Thailand, extends about 7250 sq. km and is an important supply of pure gasoline and condensate for each Thailand and Malaysia.
Block A-18 consists of the Cakerawala, BUMI, Suriya, Bulan and Bulan South discipline, which began manufacturing in 2005.
The B-17-01 block, which incorporates Amarit, Andalas, Jengka, Melaati, Muda, Tapi and Tanjung, started to manufacturing in 2010 and presently contributes about 300 cubic meters/d from pure gasoline to Thailand and Malaysia.
“PTTEP acquires full management of Mtjda Block A-18, which promotes vitality safety in Thailand” initially created and revealed by Marine technologyThe model owned by Globaldata.
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2025-07-28 09:31:00