Thailand's PTTEP Gets in on Bahrain Exploration Block

PTT Exploration and Production Public Company Limited (PTTEP) announced that it has been successful in bidding for the exploration project Block 2, located offshore in the north of Bahrain. The block covers about 2,228 square kilometers and exhibits oil potential.

Once the Exploration and Production Sharing Agreement has been settled, PTTEP will serve as the operator with 100% interest in the block.

"This success is another major step for PTTEP in expanding its investment in the Middle East, which has high petroleum potential, following the initial investment in Block 44 and Block 58 in the Sultanate of Oman, and the Saveh Block in the Islamic Republic of Iran," said President of PTTEP Maroot Mrigadat in a statement to the Stock Exchange of Thailand.