PTT Exploration and Production Public Company Limited (SET: PTTEP), has informed the Stock Exchange of Thailand that PTTEP Algeria Company Limited (PTTEP AG), a wholly-owned subsidiary of PTTEP, along with Eni Algeria Exploration B.V. (Eni) have been awarded the Reggane II Block from Algeria Bid Round 2024.
Eni (Operator) holds 66% participating interest in the block, while PTTEP AG holds 34% participating interest. The Production Sharing Contract or PSC will be signed subsequently.
Reggane II PSC Block is located in the southwest of Algeria. It covers an area of 40,827.57 square kilometers, and comprises discovered gas areas and exploration potential areas.
This investment aligns with PTTEP’s investment strategy, driving growth in strategic focus areas and further strengthening the company’s portfolio in Algeria.
