Mr. Jirayu Houngsub, spokesperson for the Prime Minister’s Office, announced that yesterday the Cabinet approved the transfer of a 33.33% stake in Petroleum Concession No. 3/2549/71, covering exploration block G12/48 in the Gulf of Thailand, from TotalEnergies EP Thailand Co., Ltd. to PTTEP International Ltd., a subsidiary of PTT Exploration and Production Public Company Limited (SET: PTTEP).
It was The Ministry of Energy that proposed the transfer, which TotalEnergies agreed to. PTTEP already holds a 66.67% stake in the block and serves as the operator. Following the transfer, it will become the sole concessionaire and operator of the exploration block.
