KrisEnergy acquires majority stake in Gulf of Thailand block

Singapore: Singapore-listed KrisEnergy announced that it has acquired a 60% working interest in block G3/48 in the Gulf of Thailand from Mubadala Petroleum

The deal is pending approvals by the government of Thailand and Block G3/48 partners. The transaction will see KrisEnergy becoming the operator for the block, which covers 2,917 sq km in shallow waters in the northern area of the Gulf of Thailand. The other partners are Tap Energy (Thailand) with 30% and Northern Gulf Oil (Thailand) Company with 10%. [28/01/14]

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