Statoil and PTTEP sign MoU for Future Cooperation

Friday, March 18, 2011

At a ceremony in Bangkok on 18 March 2011, Statoil signed a Memorandum of Understanding (MoU) with PTT Exploration and Production (PTTEP) of Thailand.

Last November, Statoil agreed to sell to PTTEP a 40% stake in its Kai Kos Dehseh Canadian Oil Sands asset, forming a strong partnership with PTTEP. The MoU builds on this partnership and opens the door for further cooperation between the two companies.

“Through this MoU we are delighted to extend our cooperation and express our intention to identify joint business opportunities and technology development projects,” says Helge Lund, CEO of Statoil.

Under the MoU, the companies will seek to cooperate in the areas of conventional and unconventional resources and liquefied natural gas (LNG) in a global setting. The MoU does not impose restrictions on the ability of either company to separately pursue other business opportunities.

”This MoU marks another big step for PTTEP’s future growth cooperation with Statoil. We are delighted to have Statoil as our partner,” says Mr. Anon Sirisaengtaksin, PTTEP president and CEO.

Established in 1985, PTTEP is Thailand's sole petroleum exploration and production company. PTTEP is one of the top ten publicly listed companies on the Stock Exchange of Thailand with a market capitalization of approximately USD 20 billion and invests in more than 40 E&P projects across 12 countries with a workforce of around 3,000 employees. PTTEP is 65% owned by PTT Public Company Limited (PTT), a fully integrated energy conglomerate in Thailand in which the Government of Thailand holds directly 51% of the shares.

Statoil is an international energy company, headquartered in Norway, with operations in 34 countries. Building on more than 35 years of experience from oil and gas production on the Norwegian continental shelf, Statoil is committed to accommodating the world's energy needs in a responsible manner, applying technology and creating innovative business solutions. Statoil has 20,000 employees worldwide, and is listed on the New York and Oslo stock exchanges.

 

Source: Statoil

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Time-out for Kwanza Drilling

Statoil has decided to cancel the Stena Carron rig contract after fulfilling the work commitments in the Statoil-operated blocks 38 and 39 in the Kwanza basin offshore Angola.

President Pryor Retires from ExxonMobil Chemicals

Stephen D. Pryor, president, ExxonMobil Chemical Company and vice president of Exxon Mobil Corporation, has elected to retire on January 1, 2015, after more than 44 years of service.

Asia Tanker, VLCC Rates Could Climb

Charterers to release 30 Middle East VLCC cargoes next week. VLCC market buoyed by upbeat Suezmax, Aframax sectors. Rates for very large crude carriers (VLCCs)

Offshore

7 Rescued from Sinking Freighter Near Haiti

Seven crewmembers were rescued after their 100-foot coastal freighter began taking on water and sank approximately 45 miles north off of Cap Haitien, Haiti, Friday.

Time-out for Kwanza Drilling

Statoil has decided to cancel the Stena Carron rig contract after fulfilling the work commitments in the Statoil-operated blocks 38 and 39 in the Kwanza basin offshore Angola.

China Building Island Big Enough for Airstrip

Satellite images show China is building an island on a reef in the disputed Spratly Islands large enough to accommodate what could be its first offshore airstrip in the South China Sea,

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2298 sec (4 req/sec)