Bangkok--22 Dec--PTTEP
PTTEP and CNOOC jointly won the petroleum exploration rights for Hassi Bir Rekaiz block in Algeria. PTTEP sees this success as a good opportunity to strengthen its investment profile in the North African region.
Mr Anon Sirisaengtaksin, the CEO and President of PTT Exploration and Production Public Company Limited or PTTEP said that the company acquired the rights through the Algeria 2009 Bid Round to explore for petroleum in Hassi Bir Rekaiz block. PTTEP through its wholly owned subsidiary, PTTEP Algeria Company Limited or PTTEP AG, and CNOOC International Limited participated in the bidding round.
Hassi Bir Rekaiz block covers an area of 5,670 square kilometers. It is situated onshore in the Southeast Zone of Algeria. PTTEP AG is an operator with 50% share in this block, the same amount of shares held by CNOOC.
The block is the 2nd petroleum block that PTTEP has in Algeria. It is approximately 115 kilometers east of the Bir Seba oil field which is being developed by Sonatrach (Algeria’s national oil company), PetroVietnam Exploration and Production Corporation (PVEP), and PTTEP.
PTTEP’s investment in Algeria as well as its cooperation with CNOOC is part of PTTEP’s strategic plan to seek opportunities in target countries which have high petroleum potential. The aims are to ensure the company growth and to ensure energy security for Thailand in the long term.
For more information, please contact External Relations Department:
Sidhichai Jayant Tel. 02 537 4592 E-mail:
[email protected] / Tongchit Pongorapin
Tel. 02 537 4587 E-mail:
[email protected] / Nuanphen Suk-aram Tel. 02 537 4476
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