Bangkok--15 Aug--PTTEP PTT Exploration and Production Public Company Limited or PTTEP is pleased to announce that it has signed today the Memorandum of Understanding (MOU) with Golar LNG Limited to collaboratively develop Floating Liquefaction Natural Gas production (FLNG) globally. This collaboration starts the new PTTEP’s strategic direction to expand its E&P business and to drive its growth from commercializing stranded gas and to secure natural gas supply to Thailand. Mr. Anon Sirisaengtaksin (นายอนนต์ สิริแสงทักษิณ), PTTEP Chief Executive Officer, revealed that under the agreement the two companies will jointly pursue investment in FLNG projects worldwide. The MOU outlines the direction and frame of collaboration between the two companies. They will equally share risks and rewards of the projects. They will jointly conduct the study on the investment in stranded offshore or close-to-shore gas fields which could deploy the FLNG technology to commercialize such natural gas economically. PTTEP will contribute its upstream experience in petroleum exploration and production as well as access to gas market while Golar LNG will contribute its strong expertise in LNG technology and services. Mr. Anon added that “We are delighted to join hands with Golar LNG which is one of the world’s leading LNG transportation service providers who has strong expertise in LNG business. Both companies see this collaboration as a major step forward in recent trend of utilizing unconventional technologies in the energy industry to drive both companies’ long term growth.” Golar LNG Limited, a firm founded in 1946, is a leading independent owner and operator of LNG ships, providing traditional LNG transportation services with over 30 years experience. It is recently commencing the world first Floating Storage and Regasification Unit (FSRU) in Brazil which will be a strong basis for FLNG development. PTTEP is the first and only Thai-operated company in the upstream oil & gas business with the mission to explore for, develop, and produce petroleum from onshore and offshore sources in Thailand and other countries. Throughout 23 years in business, PTTEP has expanded its business horizon overseas through the investments in 40 E&P projects in 14 countries worldwide. For more information, please contact External Relations Department Sidhichai Jayant Tel. +66 (02) 537 4592 E-mail: [email protected] Tongchit Pongorapin Tel. +66 (02) 537 4587 E-mail: [email protected] Fax +66 (02) 537 4982