Photo Release: PTTEP acquires Shells stake in Bongkot Project

Stocks and Financial Services Press Releases Tuesday February 27, 2018 15:54
Bangkok--27 Feb--PTT Exploration and Production Public Company Limited

PTT Exploration and Production Public Company Limited (PTTEP) represented by Mr. Montri Rawanchaikul (3rd from right), Executive Vice President, Strategy and Business Development Group, signed an Agreement for the Assignment and Transfer of the 22.2222% stake in the Bongkot Project from companies that are part of Royal Dutch Shell Plc group of companies represented by Mr. Iain Lo (3rd from left), Vice President, Commercial & New Business Development, Asia. The acquisition is aligned with PTTEP growth strategy, and upon the completion of the transaction, PTTEP's stake in the Bongkot Project will increase to 66.6667%.

The Bongkot Project, the largest natural gas field in the Gulf of Thailand, is the first offshore gas field operated by a Thai E&P company PTTEP. The project will mark its 25th anniversary in July this year.

Photo shows (from left): Mr. Virang Gadoya, General Manager, Deal Delivery & New Business Development, Asia,; Mr. Ath Hemvijitraphan, Deputy Country Chairman, Shell Thailand; Mr. Iain Lo, Vice President, Commercial & New Business Development, Asia; Mr. Montri Rawanchaikul, Executive Vice President, Strategy and Business Development Group, PTTEP; Mr. Somporn Vongvuthipornchai, Chief Executive Officer, PTTEP and Mr. Phongsthorn Thavisin, President, Exploration and Production, PTTEP.

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