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Deal Insight

PTTEP buys Partex for US$622 million

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26 June 2019

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
    • Oman
      • PDO Block 6 (Crude), 2%
      • Oman LNG, 2% and Qalhat LNG, 0.74%
      • Mukhaizna, 1%
    • United Arab Emirates
    • Kazakhstan
    • Other countries
  • Deal analysis
    • Upsides
    • Risks
    • 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:

  • Document

    PTTEP buys Partex for US$622 million

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