PTTEP will reduce its operated interest in blocks PSC-G and EP-2 from 90% to 70%, with a 20% interest to be split evenly between Mitsui and Palang. Win Precious Resources will continue to hold the remaining 10% equity in each of the blocks.
PTTEP said the farm down of its interest in the blocks was in line with its strategy in portfolio management of aiming to add value and manage risk.
Blocks PSC-G and EP 2 lie in the onshore Central Myanmar basin and cover 13,330 and 1,345 square kilometres respectively.
PTTEP is currently carrying out a four-well exploration programme in the blocks which is expected to be completed during the fourth quarter.
The Thai-company also revealed this week that executive vice president of...
