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.