PTT Exploration and Production Public Company Limited (SET: PTTEP) has announced the partial divestment of 40% participating interest in G1/65 and G3/65 projects in the Gulf of Thailand via the Stock Exchange of Thailand (SET).
On 25 July 2025, PTTEP Energy Development Company Limited (PTTEP ED), a subsidiary of PTTEP, has entered into a Farm-out Agreement to transfer 40% of its participating interest in G1/65 and G3/65 Projects to Valeura Energy (Chaiyaphruek) Ltd., a subsidiary of Valeura Energy Inc.
The divestment will be completed after all conditions precedent stipulated in the said agreement are fulfilled, which include obtaining necessary approval from the government agency of Thailand. The participation interest upon completion will be as follows:
- PTTEP ED (Operator) 60%
- Valeura Energy (Chaiyaphruek) Ltd. 40%
The company notes that this divestment aligns with its investment strategy to rationalize its portfolio and manage business risks associated with exploration-phase projects.
