PTTEP Farms-Out Stake in Block B Offshore Cambodia
PTT Exploration and Production Public Company will sign a Farm-out Agreement on April 4th for Block B, offshore Cambodia, with Resourceful Petroleum Limited. PTTEPI will be the Operator with a 40% participation interest and RPL will hold a 60% participation interest.
Block B covers an area of approximately 6,551 square kilometers. The block is located about 250 kilometers off the coast of Cambodia, to the east of the Thai-Cambodian Overlapping Claims Area. A primary geological study indicates natural gas and crude oil potential. The Company plans to conduct a seismic survey and drill an exploration well in the first three years of the exploration period.
Participation will be valid after obtaining approval on the Production Sharing Contract from the Cambodian government.
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