PTT Exploration and Production Public Company Limited (PTTEP) or PTTEP revealed that on December 16, 2022, PTTEP (Angola) Corporation (PANG), a subsidiary of PTTEP has entered into a sale and purchase agreement to sell the entire 2.5% interest in Block 17/06 in Angola to SOMOIL BLOCO 17/06 (SU), SA, a company. Subsidiary of Sociedade Petrolifera Angolana, SA (SOMOIL)
The trade will be valid upon fulfillment of the conditions specified in the contract of sale. It is expected to be completed by mid-2023.
The Block 17/06 project is a crude oil production project in the development phase. Located off the west coast of Angola. After the sale of this investment is completed. This will be the termination of PTTEP’s entire operational role in Angola. to be in line with PTTEP’s strategic plan
By InfoQuest News Agency (19 Dec. ’22)
Tags: PTTEP, PTT Exploration and Production, energy stocks, Thai stocks
