PTT Exploration & Production, Total to Invest in Oman Exploration Block

Date : 02/20/2020 @ 2:45AM
Source : Dow Jones News
Stock : Total SA (FP)
Quote : 37.305  2.105 (5.98%) @ 1:21PM

PTT Exploration & Production, Total to Invest in Oman Exploration Block

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   By P.R. Venkat 
 

PTT Exploration & Production PCL and France's Total SA have signed an investment agreement for the exploration and production of an onshore block in Oman.

The agreement was signed by the units of both companies and Oman's Oil and Gas Ministry, PTTEP said in a filing to Thailand's stock exchange late Wednesday.

The Thai entity will have a 20% stake, while the remainder will be held by Total.

The investment is part of PTTEP's plan to expand its portfolio in the Middle East, according to the filing.

The companies didn't disclose the financial details of the investment.

 

Write to P.R. Venkat at venkat.pr@wsj.com

 

(END) Dow Jones Newswires

February 19, 2020 21:30 ET (02:30 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.


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