ChevronTexaco Acquires Stake in block 9A Offshore Thailand

BG's has sold its stake in Block 9A in the Gulf of Thailand to the Tantawan joint venture, which is led by ChevronTexaco. The block is a small concession area, however, it does have some gas reserves. ChevronTexaco is operator of the neighboring Tantawan field in the Gulf of Thailand. In June 2001, Thailand and Cambodia signed a Memorandum of Understanding to conclude an agreement for the joint development of the hydrocarbons in a Joint Development Area, including Blocks 7, 8 and 9. A small portion of Block 9 (referred to as Block 9a) is no longer disputed.

The deal to acquire BG's stake in this field was concluded earlier this month.

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