THAILAND: PTTEP to pay US$2.28 billion for 40% stake in Canadian oil sands project

摘要

Thai upstream company PTT Exploration and Production (PTTEP) has agreed to pay US$2.28 billion Norway's Statoil for a 40% stake in its oil sands project in Canada's Alberta province. Statoil will retain 60% ownership in the Kai Kos Dehseh (KKD) project which it will continue to operate while subsidiary Statoil Canada Ltd will market the production. The effective date of the transaction is January 1 2011. The transaction is subject to customary regulatory approvals in Canada and is expected to close in the first quarter 2011.