Offshore staff
BANGKOK, Thailand -- PTTEP International Ltd. (PTTEPI), a unit of Thailand's PTT Exploration and Production Public Co. Ltd., has increased its stake in the Cambodia B project, in block B offshore Cambodia.
Block B lies 250 km (155 mi) offshore in the Gulf of Thailand east of the Thai-Cambodian Overlapping Claims Area. The nearby Khmer basin, northwest of the Cambodia B project, has seen a number of oil and gas discoveries.
PTTEPI, along with co-venturers Resourceful Petroleum Ltd. and SPC Cambodia Ltd., have exercised their pre-emption rights to purchase the entire 10% participation interest of CE Cambodia B Ltd. in the project.
After the acquisition, each of the co-venturers will increase its participation interest from 30% to 33.333334%.
1/5/2007
