Deal Insight
PTTEP buys Partex for US$622 million
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
-
Upstream assets
-
Oman
- PDO Block 6 (Crude), 2%
- Oman LNG, 2% and Qalhat LNG, 0.74%
- Mukhaizna, 1%
- United Arab Emirates
- Kazakhstan
- Other countries
-
Oman
- Deal analysis
-
Upsides and risks
- Upsides
- Risks
-
Strategic rationale
- PTTEP
- Calouste Gulbenkian Foundation
- Oil & gas pricing and assumptions
Tables and charts
This report includes 8 images and tables including:
- Executive summary: Table 1
- Deal analysis: Table 1
- Deal analysis: Table 2
- Deal analysis: Table 3
- Deal analysis: Table 4
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
- Upstream assets: Table 1
What's included
This report contains:
Other reports you may be interested in
Commodity Market Report
Regional product markets short-term outlook June 2024
Monthly forecast of regional refining economics, regional demand and supply by product along with stock forecasts and a net trade forecast
$1,900
Commodity Market Report
Global copper short-term outlook May 2024
Ongoing investor interest and short covering sees copper breach the US$11,100/t level.
$5,000
Commodity Market Report
Global thermal short-term outlook May 2024
Deceptively tight high CV supply and approaching peak season keep prices elevated amid expected warmer-than-usual weather in key markets
$5,000