Completion of acquisition of Murphy Oil Corporation’s Interests in Malaysia
10 Jul 2019
PTTEP 13061/00-6787/2019
Investor Relations
Tel. +66(0) 2537 4868, +66(0) 2537 5843
10 July 2019
President
The Stock Exchange of Thailand
93 Ratchadapisek Road, Din Daeng
Bangkok 10400
Dear Sir,
Subject: Completion of acquisition of Murphy Oil Corporation’s Interests in Malaysia
Reference: Letter no. PTTEP 13061/00-3212/2019, dated 21 March 2019
Reference is made to PTT Exploration and Production Public Company Limited (PTTEP)’s Statement dated 21 March 2019 with respect to the signing of Share Sale and Purchase Agreement (“SSPA”) to acquire the 100% of Murphy Oil Corporation’s (Murphy) business in Malaysia through the equity in two subsidiaries of Murphy; Murphy Sarawak Oil Company Limited (“Murphy Sarawak”) and Murphy Sabah Oil Company Limited (“Murphy Sabah”)
PTTEP wishes to announce that, on 10 July 2019, the conditions precedent to closing prescribed in the aforementioned agreement have been completed. As a result, starting from the completion date, the incremental petroleum sales volume to PTTEP is approximately 48,000 barrels of oil equivalent per day (BOED) and ramping up to 60,000-70,000 BOED in 2022.
Please be informed accordingly.
Sincerely yours,
Phongsthorn Thavisin
Phongsthorn Thavisin
President and Chief Executive Officer