14 Jan 2019

PTTEP 13061/00-0163/2019                                                                             

  
Investor Relations

    

14 January 2019

 

President

The Stock Exchange of Thailand

93 Ratchadapisek Road, Din Daeng

Bangkok 10400

 

Dear Sir,

 

Subject:              Results of United Arab Emirates Bidding Round

 

PTT Exploration and Production Public Company Limited (PTTEP) would like to announce that PTTEP MENA Limited, a wholly-owned subsidiary of PTTEP, and Eni Abu Dhabi B.V., a wholly-owned subsidiary of Eni have been selected as the successful bidders from the Abu Dhabi’s Open Block Licensing Round for exploration and production rights of two offshore blocks named Offshore 1 and Offshore 2 which are located in the north-west of Abu Dhabi, United Arab Emirates. The consortium have signed Concession Agreement with the Abu Dhabi National Oil Company (ADNOC) on 12 January 2019, with the participation interest for PTTEP MENA Limited at 30% and Eni Abu Dhabi B.V. (the Operator) at 70%.

This investment in the United Arab Emirates exploration blocks is another important milestone for PTTEP to expand its international investment portfolio to the Middle East, which is the area of high petroleum potential; and is in line with PTTEP’s strategy to broaden strategic alliance partnership with well-experienced operators.

 

Please be informed accordingly.

 

Sincerely yours,

 

 

Phongsthorn Thavisin

President and Chief Executive Officer