AEQUITAS adviced the Calouste Gulbenkian Foundation on the sale of Partex Holding B.V. to PTTEP for up to US $622 mln
Partex upon closing held a 20% interest in the Production Sharing Agreement for the major oil and gas Dunga field, operated by Total. The geological reserves of hydrocarbons estimated for the block located in Mangystau Oblast of Kazakhstan reach 106 mln tons of oil and more than 6 bln cubic meters of gas. After the completion, PTTEP will assume the same participating interests as Partex.
Thai state energy concern PTT Exploration and Production Public Company Limited (PTTEP) is a member of the Dow Jones Sustainability index as well as a one of the twenty largest oil and gas companies in the world, running over 40 oil projects in 15 countries. The total transaction value is approximately US$622 mln, allowing PTTEP to become a part of consortium participating in the major oil and gas projects in 5 countries and also to expand Middle East presence.
The multi-jurisdictional transaction includes assets in Oman, Abu Dhabi, Kazakhstan, Brazil, Angola and Portugal. The project was implemented with the legal assistance of AEQUITAS and Linklaters, the Magic Circle law firm and a global counsel of the Seller. AEQUITAS team was led by Partner Natalya Braynina and Senior Associate Anna Kornilova.
The transaction was successfully completed in November 2019. AEQUITAS expresses its congratulations on the conclusion of this process.