Name: PTTEP buys Partex for US$622 million
Brand: Wood Mackenzie
SKU: 112214
Price: 1650 USD
Availability: OnlineOnly
Author: Wood Mackenzie

Deal Insight 26 June 2019

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            <h3 class="mega store_featured_content_extrabold store_font_black">Report summary</h3>
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PTTEP is buying Partex for US$622 million. The deal takes PTTEP's 2019 M&A spend to US$2.8 billion, marking PTTEP as the third-largest upstream buyer in the year to date, behind Occidental and Total. Partex's commercial portfolio consists of minority oilfield interests in Oman (PDO Block 6, Mukhaizna), Kazakhstan (Dunga) and the UAE (GASCO), as well as two LNG plant stakes (Oman LNG and Qalhat LNG). The Middle East is one of PTTEP's most important strategic regions outside of Southeast Asia. PTTEP had also recently entered the UAE, with the award in January of two offshore exploration blocks.</div>
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                    <h3 class="alpha push-half--bottom">Table of contents</h3>

<li class="list__item-toggle font-semibold">
        Executive summary
    </li>

<li class="list__item-toggle font-semibold">
        Transaction details
    </li>

<li class="list__item-toggle">
        <a href="#e8514450-9249-4f81-ac2e-ee733219acad" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="e8514450-9249-4f81-ac2e-ee733219acad" aria-expanded="false">
            Upstream assets
        </a>
        <ul id="e8514450-9249-4f81-ac2e-ee733219acad" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        Oman
            <ul id="73991bde-2c8a-456f-9f01-d140fc5dfae2" class="push-half--left">
                    <li class="push-quarter--bottom">
        PDO Block 6 (Crude), 2%
    </li>
    <li class="push-quarter--bottom">
        Oman LNG, 2% and Qalhat LNG, 0.74%
    </li>
    <li class="push-quarter--bottom">
        Mukhaizna, 1%
    </li>

</ul>
    </li>
    <li class="push-quarter--bottom">
        United Arab Emirates
    </li>
    <li class="push-quarter--bottom">
        Kazakhstan
    </li>
    <li class="push-quarter--bottom">
        Other countries
    </li>

</ul>
    </li>

<li class="list__item-toggle font-semibold">
        Deal analysis
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            Upsides and risks
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        <ul id="b2bd19cd-d383-4d54-87b2-ec68268daefc" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        Upsides
    </li>
    <li class="push-quarter--bottom">
        Risks
    </li>

</ul>
    </li>

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        <a href="#35e04789-4291-470d-8446-92c6a7623e96" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="35e04789-4291-470d-8446-92c6a7623e96" aria-expanded="false">
            Strategic rationale
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        <ul id="35e04789-4291-470d-8446-92c6a7623e96" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        PTTEP
    </li>
    <li class="push-quarter--bottom">
        Calouste Gulbenkian Foundation
    </li>

</ul>
    </li>

<li class="list__item-toggle font-semibold">
        Oil & gas pricing and assumptions
    </li>

</ul>

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<h3 class="alpha push-half--bottom">Tables and charts</h3>

<p class="push-half--bottom">This report includes the following images and tables:</p>

<ul class="list list--bullets">
         <li class="list__item push-quarter--bottom">Executive summary: Table 1</li><li class="list__item push-quarter--bottom">Deal analysis: Table 1</li><li class="list__item push-quarter--bottom">Deal analysis: Table 2</li>
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        <ul class="list list--bullets panel-toggle" id="365b54d29c36471bbfa12c808a5a26ee">
            <li class="list__item push-quarter--bottom">Deal analysis: Table 3</li><li class="list__item push-quarter--bottom">Deal analysis: Table 4</li><li class="list__item push-quarter--bottom">Oil & gas pricing and assumptions: Table 1</li><li class="list__item push-quarter--bottom">Oil & gas pricing and assumptions: Table 2</li><li class="list__item push-quarter--bottom">Upstream assets: Table 1</li>
        </ul>
        
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<h3 class="alpha push-half--bottom ">What's included</h3>
<p class="push-half--bottom ">This report contains:</p>
<ul class="list"><li class="list__item-icon push-half--bottom"><svg class="list__image-icon" width="13.9" height="17.2" viewBox="0 0 13.9 17.2"><title>Document</title><g fill="#232323"><path d="M13.8 3.5L10.3.2c-.1-.2-.2-.2-.3-.2H1.5C.7 0 0 .7 0 1.5v14.2c0 .8.7 1.5 1.5 1.5h10.9c.8 0 1.5-.7 1.5-1.6V3.8c0-.1 0-.2-.1-.3zm-3.4-1.8l1.7 1.6h-1.7V1.7zm2 14.4H1.5c-.2 0-.5-.2-.5-.5V1.5c0-.2.3-.5.5-.5h7.8v2.9c0 .2.2.5.5.5h3.1v11.3c0 .2-.2.4-.5.4z"></path><path d="M11.1 6.3H3.7c-.2 0-.5.2-.5.5s.2.5.5.5H11c.3 0 .6-.2.6-.5s-.3-.5-.5-.5zM11.1 12.6H3.7c-.2 0-.5.2-.5.5 0 .2.2.5.5.5H11c.3 0 .6-.2.6-.5-.1-.3-.3-.5-.5-.5zM3.7 10.4H11c.3 0 .6-.2.5-.5 0-.2-.2-.5-.5-.5H3.6c-.2 0-.5.2-.5.5 0 .2.2.5.6.5z"></path></g></svg>
<p class="font-regular" >PTTEP buys Partex for US$622 million</p>
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    <span>PDF</span>
    <span>753.06 KB</span>
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