SET Notification

The acquisition of stakes in the Concession Area C exploration block

3 December 2021

PTTEP 13061/00-8401/2021                                                                            

Investor Relations
Tel. +66(0) 2537 4259, +66(0) 2537 5522
3 December 2021
The Stock Exchange of Thailand
93 Ratchadaphisek Road, Dindaeng
Bangkok 10400
Dear Sir,
Subject:     The acquisition of stakes in the Concession Area C exploration block

PTT Exploration and Production Public Company Limited (PTTEP) would like to announce that on 3 December 2021, PTTEP MENA Limited (“PTTEP MENA”), a subsidiary of PTTEP, has signed Farm-in/Farm-out Agreement to acquire 25% stake in the Concession
Area C onshore the Emirate of Sharjah from Eni Sharjah B.V. (“ENI”).

The acquisition will be completed after fulfilling all conditions in the said agreement and obtaining all necessary government approvals with an expected completion date within 2021. After completion, the participation interest for this project will be as follow; ENI (Operator) 50%, SNOC 25% and PTTEP MENA 25%.

Area C is an onshore gas and condensate concession block in the exploration phase, situated in the central part of Sharjah Emirate, covering area approximately 1,184 square kilometers. The transaction aligns with PTTEP’s strategy, focusing on prolific area in the Middle East.

Please be informed accordingly.

Sincerely yours,


Montri Rawanchaikul

Montri Rawanchaikul

Chief Executive Officer