Bangkok--20 May--PTTEP
PTTEP, in its endeavor to strengthen its investment profile in focused country and in line with its strategy, won the petroleum exploration rights for four offshore blocks in Indonesia.
Mr Anon Sirisaengtaksin, the President and CEO of PTT Exploration and Production Public Company Limited or PTTEP said that the company acquired the rights through the Indonesia Petroleum Bidding Round 2009/2010. PTTEP joined hands with its partners, Talisman (Asia) Limited or Talisman, in participating in the bidding process.
Announced on May 18 this year, PTTEP and its consortium won the exploration rights for four blocks in offshore Indonesia. The Production Sharing Contract awarded to the consortium was signed by Indonesian authority.
Four offshore blocks are Malunda, South Mandar, Sadang and South Sageri. These blocks are situated in the Makassar Strait, off the coast of Sulawesi and Kalimantan in Indonesia. PTTEP will be the operator of Malunda and South Mandar and holds 100% and 67% share, respectively, while Talisman holds the rest. For another two blocks, Sadang and South Sageri, PTTEP will hold 40% and 30% share while Talisman, the operator, holds 60% and 70% share. During the primary period, the consortium will conduct 3D seismic survey and drill at least one exploration well.
PTTEP’s strategic merger and acquisition as well as its cooperation with partners in making new investments are part of PTTEP’s strategic plan to seek opportunities in focused 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.
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