PTTEP pays $2.6B for stake in Middle East project

BP’s large scale spin off continues as it sells a 20% stake in its Oman gas project to Thailand’s PTTEP for US$2.6 billion. The sale will complete this year. BP first announced the selldown in 2020 and has held the block since signing a PSC in 2007.

PTTEP pays $2.6B for stake in Middle East project PTTEP pays $2.6B for stake in Middle East project PTTEP pays $2.6B for stake in Middle East project PTTEP pays $2.6B for stake in Middle East project PTTEP pays $2.6B for stake in Middle East project
 
 The UK company keeps a 40% stake of the large project, and the sell down is part of its wider $25 billion divestment.

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