PTTEP enters into a large gas field in the UAE Immediately increasing reserves and expanding foothold in strategic investment area
June 11, 2024 PTTEP acquires a 10% participating interest in the Ghasha Concession , one of the largest natural gas fields in the United Arab Emirates which aims to operate with net zero emissions. This strategic investment will immediately add the company’s petroleum reserves. Mr. Montri Rawanchaikul, Chief Executive Officer of PTT Exploration and Production Public Company Limited (PTTEP), revealed that PTTEP MENA Limited, a subsidiary of PTTEP, has signed a Sales and Purchase Agreement (SPA) with Wintershall DeaMiddle East GmbH, a German energy company to buy a 10% participating interest in the Ghasha Concession, a sizable natural gas field offshore Abu Dhabi in the United Arab Emirates (UAE). This transaction has been approved by the relevant regulatory authorities and will add company’s petroleum proved reserves in line with company’s strategic plan. “The acquisition of the Ghasha Concession, a significant natural gas field, marks an important step in strengthening PTTEP’s Mid...