PTTEP completed the acquisition of a 50% stake in MTJDA Block A-18 business of Chevron Corporation for $450m.

PTTEP, Thailand's national petroleum exploration and production company, completed the acquisition of a 50% stake in MTJDA Block A-18 business of Chevron Corporation, an American multinational energy corporation predominantly specializing in oil and gas, for $450m. “PTTEP is pleased to further expand our operations in the MTJDA, which is recognized for its petroleum potential and strategic significance to Thailand’s energy security. The acquisition also contributes to the company’s growth. Apart from the existing producing fields, Block A-18 includes several discovered gas fields awaiting development to unlock their full potential. Participation in Block A-18 also fosters operational synergy with Block B-17-01, enhancing efficiency to ensure continuous and accelerated energy supply for both countries," Montri Rawanchaikul, PTTEP CEO.