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SET Notification

TOTAL’s participation in the Myanmar MD-7 Project

3 March 2017

PTTEP 13061/00-1554/2017

Investor Relations
Tel., 0-2537-5919, 0-2537-5304, 0-2537-5779, 0-2537-4446

3 March 2017

President
The Stock Exchange of Thailand
93 Ratchadapisek Road, Dindaeng
Bangkok 10400

Dear Sir,

Subject:           TOTAL’s participation in the Myanmar MD-7 Project

Reference is made to PTTEP South Asia Limited or PTTEP SA, a subsidiary of PTT Exploration and Production Public Company Limited (PTTEP), an operator to and a holder of 100% participating interest of the Myanmar MD-7 Project, located offshore in Moattama Basin, Republic of the Union of Myanmar, and covering the area of 7,798 square kilometers.
PTTEP wishes to announce that PTTEP SA has agreed to divest the participating interest of Myanmar MD-7 Project to TOTAL E&P MYANMAR (TOTAL). The transaction has been approved by the government of Republic of the Union of Myanmar. The new consortium structure will be as follows:

                   PTTEP SA (Operator)                                   50% participating interests
                   TOTAL E&P MYANMAR                                 50% participating interests

The entry of TOTAL, who possess world class knowledge and experience in oil and gas exploration, will balance the risk management as well as enhance the value of the project. This divestiture is part of PTTEP’s strategy for portfolio management.

 

Sincerely yours, 

Somporn Vongvuthipornchai 

Somporn Vongvuthipornchai
President and Chief Executive Officer

 

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