Thailand’s PTT Exploration and Production has announced the completion of Sale and Purchase Agreement to hold 22.1% interest in Touat Project in Algeria.
According to PTT Exploration and Production Public Company Limited (SET: PTTEP)’s announcement to the Stock Exchange of Thailand No. 13061/00-15846/2024 dated 20 December 2024, with respect to the investment in Touat Project in Algeria through the acquisition of 34% share capital in E&E Algeria Touat B.V., PTTEP wishes to inform that the conditions precedent as prescribed in the Sale and Purchase Agreement have been satisfied. Following the completion of the transaction on 2 September 2025, PTTEP holds an indirect 22.1% interest in the project.
Touat Project is a natural gas producing field, operating under the Production Sharing Contract (PSC), located in the onshore Timimoun petroleum basin in Algeria. The current gas production is at approximately 435 MMSCFD and potential for further production ramp-up in the coming years. Hence, this investment delivers immediate revenue, increase production volume and petroleum reserves, thereby supporting PTTEP’s future growth.
