February 26, 2019 / 6:17 AM / 7 months ago

Mubadala Petroleum says signs production sharing contract with Thai partner for offshore block

DUBAI, Feb 26 (Reuters) - Abu Dhabi’s Mubadala Petroleum said on Tuesday it has signed the production sharing contract together with its partner PTTEP Energy Development Co for an offshore block containing the Erawan producing gas field in Thailand.

The current block G1/61 concession will expire in April 2022 and PTTEP Energy Development Co, a subsidiary of PTT Exploration and Production PCL, will then assume operational control.

The Thai firm will hold a 60 percent participating interest and Mubadala Petroleum will hold the balance in the production sharing contract for the block, Mubadala Petroleum said in a statement. (Reporting by Saeed Azhar Editing by Shri Navaratnam)

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