Shell completes Thai Bongkot field stake sale to PTTEP

Shell completes Thai Bongkot field stake sale to PTTEP
Image courtesy of Shell

The Hague-based LNG giant Shell said it has completed the sale of its 22.2 percent interest in the Bongkot field offshore Thailand to PTT Exploration and Production for $750 million. 

Shell held the interest in the field and adjoining acreage through its two units, Shell Integrated Gas Thailand and Thai Energy Company.

This sale, which consists of Shell’s stake in Blocks 15, 16 and 17 and Block G12/48, was agreed on January 31, 2018, and completion follows receipt of the necessary regulatory approvals.

PTTEP is the operator of Bongkot and with the completion of this transaction, increased its stake in Bongkot to 66.6667 percent. The remaining 33.3333 percent belongs to Total.

Completion of this deal continues Shell’s $30bn divestment programme and is in line with the company’s aim to simplify and refocus its portfolio.

Share this article

Follow LNG World News

Events>

<< Mar 2019 >>
MTWTFSS
25 26 27 28 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

6th Mozambique Gas Summit & Exhibition

The CWC Group and ENH would like to thank all attendees, speakers, sponsors and exhibitors…

read more >

LNG2019

LNG2019 is presented by the IGU, GTI and IIR, supported by the Shanghai Government and hosted by China LNG Association…

read more >

CWC World Gas & Power Series – Brazil & the Americas Summit

Meet with the Gas, LNG & Power Industry in Brazil & the Americas

read more >

Downstream 2019

Renowned as the most significant global meeting place for Downstream professionals…

read more >