PTT Exploration and Production Plc (PTTEP) continues to expand its investment in petroleum production in the United Arab Emirates (UAE) by acquiring a 25% stake in the Sharjah Onshore Area A from a subsidiary of Eni, an Italy-based integrated energy company.
"This Sharjah Onshore Area A is our fifth project in the UAE since the company's first entry into the country in 2019," said Montri Rawanchaikul, chief executive of PTTEP.
A farm-in agreement to acquire a 25% stake in the Sharjah Onshore Area A, an exploration block of the Sharjah Emirate, was recently made between PTTEP Mena, a subsidiary of PTTEP, and Eni Sharjah BV.
