Shell to sell its stake in Thailand’s Bongkot field
THE HAGUE -- Shell has reached an agreement with KUFPEC Thailand Holdings Pte Limited, a subsidiary of Kuwait Foreign Petroleum Exploration Company, for the sale of subsidiary companies Shell Integrated Gas Thailand Pte Limited and Thai Energy Co Limited, which together hold a 22.222% equity stake in Bongkot field, and adjoining acreage offshore Thailand consisting of Blocks 15, 16 and 17 and Block G12/48, for $900 million.
Shell’s partners in the Bongkot asset are the operator of the field, PTT Exploration & Production, with 44.445% equity, and Total, with 33.333% equity.
This transaction is expected to be completed in first-quarter 2017.
