Deal Insight
PTTEP buys Partex for US$622 million
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
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.
Table of contents
- Executive summary
- Transaction details
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Upstream assets
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Oman
- PDO Block 6 (Crude), 2%
- Oman LNG, 2% and Qalhat LNG, 0.74%
- Mukhaizna, 1%
- United Arab Emirates
- Kazakhstan
- Other countries
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Oman
- Deal analysis
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Upsides and risks
- Upsides
- Risks
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Strategic rationale
- PTTEP
- Calouste Gulbenkian Foundation
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
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Executive summary: Table 1Deal analysis: Table 1Deal analysis: Table 2
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Deal analysis: Table 3Deal analysis: Table 4Oil & gas pricing and assumptions: Table 1Oil & gas pricing and assumptions: Table 2Upstream assets: Table 1
What's included
This report contains:
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