PTTEP Increases Stake Cambodia's Block B

PTTEPI and other joint venture partners have exercised their pre-emption rights to purchase the entire 10% participation interest of CE Cambodia B Ltd. (CEL). After the acquisition, PTTEPI will increase its participation interest from 30% to 33.333334%.

The existing joint venturers have offered to purchase the entire participation interest of CEL for US$ 3.5 million.

The joint venturers will pay the upfront amount of US $1 million after receiving approval from Cambodian government and will be required to start the payment of the remaining amount when production reaches 100 million barrels of oil equivalent onwards.

After the approvals, the joint venture partners will consist of PTTEP International Limited, Resourceful Petroleum Limited (RPL) and SPC Cambodia Ltd. (SPC) with 33.333334 %, 33.333333% and 33.333333% participation interests, respectively.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Business Development Director - Midstream Services
Expertise: Business Development|Operations Management
Location: Houston, TX
Project Manager, Oil and Gas
Expertise: Budget / Cost Control|Planner / Scheduler|Project Management
Location: Harvey, LA
Case Specialist II Job
Expertise: Business Analyst|Legal|Regulatory Compliance
Location: Denver, CO
search for more jobs

Brent Crude Oil : $55.45/BBL 0.99%
Light Crude Oil : $52.37/BBL 1.20%
Natural Gas : $3.42/MMBtu 0.88%
Updated in last 24 hours