PTTEP Increases Stake in Block G4/43

PTTEP International Limited will increase its participation interest in Block G4/43 in the Gulf of Thailand from 15% to 21.375%. After the approvals of the Supplementary Concession, the joint venture partners will consist of Chevron, PTTEPI, MOECO and Palang Sophon Two Ltd. 51%, 21.375%, 21.25% and 6.375% participation interests, respectively.

Block G4/43, which contains an as yet undetermined amount of natural gas, covers a total area of 9,686 square kilometers in the Gulf of Thailand, off the coast of Prachuab Khirikhan province. The project is in the exploration phase after the Thai cabinet granted the concession to the consortium in 2003.