BANGKOK, Thailand – PTTEP has acquired Wintershall Dea’s 10% in the Ghasha concession offshore western Abu Dhabi. The transaction has approvals from the relevant regulatory authorities.
The concession area contains multiple development projects and is set to produce over 1,500 MMcf/d before the end of this decade, PTTEP said: one of the projects will capture 1.5 MMmt of carbon dioxide (CO2).
It is also close to the Offshore Blocks 1, 2 and 3 exploration concession, where PTTEP is already a partner. In addition, the company participates in the ADNOC Gas Processing joint venture.
Wintershall Dea’s decision to sell follows its agreement to transfer most of its E&P business to Harbour Energy: Ghasha was not part of that arrangement.
The company now plans to close its office in Abu Dhabi and to terminate its operations in the country. It had been awarded the stake in Ghasha in November 2018.
