Markaz: PTT Exploration Reigns The Top GCC M&A Transactions For Q1 2021 With The Acquisition Of A Minority Stake In Oman s Central Gas Processing Facility albawaba.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from albawaba.com Daily Mail and Mail on Sunday newspapers.
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The value of mergers and acquisitions in the Middle East and North Africa reached $17.1 billion in the first three months of 2021, up 19 per cent on the same period last year, according to Refinitiv.
The acquisition of a 20 per cent stake in BP’s Block 61 gas field in Oman by Thailand’s PTT Exploration and Production Public Company for $2.59bn was the biggest single deal in the region during the period, the company s quarterly Mena Investment Banking Review showed.
Other prominent deals included Mubadala Investment Company’s $1.65bn purchase of refinery and logistics assets of Brazil’s Petrobras, the acquisition of Emaar Malls by its parent Emaar Properties for $991.6m and Sublime Commercial Investment’s acquisition of a 12.21 per cent stake in Aldar Properties for $953m.
05 Apr 2021 (Last Updated April 5th, 2021 11:41)
PC Myanmar (PCML), a subsidiary of Malaysia s oil and gas company Petronas, has declared force majeure (FM) on its Yetagun gas and condensate field located offshore Myanmar.
The Yetagun gas and condensate field covers an area of approximately 24,130km². Credit: Charlie Hang on Unsplash.
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PC Myanmar (PCML), a subsidiary of Malaysia’s oil and gas company Petronas, has declared force majeure (FM) on its Yetagun gas and condensate field located offshore Myanmar.
Covering an area of approximately 24,130km², the Yetagun gas and condensate field spans in blocks M12, M13 and M14 in the Gulf of Martaban, Andaman Sea.
Thai national oil company PTT Exploration & Production (PTTEP) has hit sweet gas with its first exploration well, the shallow-water Dokong-1, in Block SK417, off the Malaysian state of Sarawak.. Read more here.
bp agrees to sell interest to PTT Exploration and Production Public Company Limited for $2.6B
bp will remain operator of Block 61, with 40% interest
Agreement marks another significant step in bp’s divestment programme
bp has agreed to sell a 20% participating interest in Oman’s Block 61 to PTT Exploration and Production Public Company Limited (PTTEP) of Thailand for a total consideration of $2.6B. Following completion of the sale, bp will remain operator of the block, holding a 40% interest.
Subject to approval from the Sultanate of Oman and partners, the deal is expected to complete during 2021. The agreed total consideration of $2.590B comprises $2.450B payable on completion (subject to final adjustments) and $140M payable contingent on pre-agreed future conditions.