SET Notification

The divestment of Partex Brasil Ltda. and Partex Brasil Operações Petrolíferas Ltda.

30 July 2021


PTTEP 13061/00-6109/2021                                                                                                                        

Investor Relations                                                                                                                                                                                                     
Tel. +66(0) 2537 4259, +66(0) 2537 5522
 
 
30 July 2021
 
President
The Stock Exchange of Thailand
93 Ratchadaphisek Road, Dindaeng
Bangkok 10400
 
 
Dear Sir,
 
 
Subject:      The divestment of Partex Brasil Ltda. and Partex Brasil Operações Petrolíferas Ltda.
 
 
PTT Exploration and Production Public Company Limited, or PTTEP, wishes to announce that, on 30th July 2021, Participations and Explorations Corporation and Partex (Brazil) Corporation, subsidiaries of PTTEP, entered into a Sale and Purchase Agreement (SPA) to sell Partex Brasil Ltda. and Partex Brasil Operações Petrolíferas Ltda., which are registered in the Federative Republic of Brazil, altogether with all obligations to Ubuntu Engenharia e Serviços Ltda. Completion of the sale is subject to the conditions prescribed in the SPA, including the Brazilian regulatory approvals from the National Agency of Petroleum, Natural Gas and Biofuels. The Completion is expected by this year end.
 
Partex Brasil Ltda. is a concessionaire holding 50% interest in the Potiguar Project which is an onshore oil field located in the northeast of Brazil, with the average crude sales volume of 94 barrels per day (50% interest) in 2020. The divestment is part of portfolio rationalization to be aligned with the Company’s investment direction.
 
Please be informed accordingly.
 
 
Sincerely yours,
 
Phongsthorn Thavisin
 
Phongsthorn Thavisin
Chief Executive Officer