Singapore: KrisEnergy, an independent upstream oil and gas company, has agreed with Mubadala Petroleum to purchase the entire issued and paid up share capital of MP G10 (Thailand) Limited, the entity holding a 75% working interest in, and operatorship of, the G10/48 licence in the Gulf of Thailand.
KrisEnergy acquired in 2009 a 25% non-operated working interest in G10/48, which covers 4,696 sq km over the southern section of the Pattani Basin in water depths up to 60 m. On completion of the MP G10 transaction, within five business days, KrisEnergy will hold a combined 100% working interest and operatorship of the block, which contains three oil discoveries – Wassana, Niramai and Mayura – in various stages of development or appraisal. The upfront consideration for the acquisition is $102.m, subject to a working capital adjustment. [22/05/14]
