The Signing of Production Sharing Contracts for Exploration Blocks offshore the Gulf of Thailand No. G1/61 and G2/61
25 Feb 2019
PTTEP 13061/00-2227/2019
Investor Relations
Tel. +66(0) 2537 4868, +66(0) 2537-5843
25 February 2019
President
The Stock Exchange of Thailand
93 Ratchadapisek Road, Din Daeng
Bangkok 10400
Dear Sir,
Subject: The Signing of Production Sharing Contracts for Exploration Blocks offshore the Gulf of Thailand No. G1/61 and G2/61
Reference: Letter no. PTTEP 13061/00-11024/2018, dated 13 December 2018
Reference is made to PTT Exploration and Production Public Company Limited (PTTEP) Statement dated 13 December 2018 on the announcement of the result of Thailand Petroleum Bidding Round 2018 for Exploration Blocks offshore the Gulf of Thailand No. G1/61 (Erawan field) and G2/61(Bongkot field).
On 25 February 2019, PTTEP Energy Development Company Limited (PTTEP ED), a subsidiary of PTTEP, together with MP G2 (Thailand) Limited, a subsidiary of Mubadala Petroleum (Thailand) Holdings Limited, signed the Production Sharing Contract (PSC) in G1/61(Erawan field) with the holding interest of 60% and 40% respectively. For G2/61 (Bongkot field), PTTEP ED signed the PSC with the holding interest of 100%. PTTEP ED is the operator of both fields.
As the experienced operator of gas fields in the Gulf of Thailand together with concrete operational plans and government support during the transition period, PTTEP has confidence in ensuring production continuity in natural gas supply. As stated in the PSCs, starting from 2022 and 2023 to 2032, the minimum production volume for Erawan and Bongkot fields are at 800 MMSCFD and 700 MMSCFD respectively.
Please be informed accordingly.
Sincerely yours,
Phongsthorn Thavisin
Phongsthorn Thavisin
President and Chief Executive Officer