MTJDA M&A - PTTEP acquire Chevron's interest in the MTJDA

(Originally published on July 28, 2025)

On Friday, PTTEP announced that they had acquired Chevron's 50% stake in Carigali-Hess, the Joint Operating Company that holds 100% interest block A-18 in the Malaysia-Thailand Joint Development Area (MTJDA). The base consideration for the deal is US $450 million, subject to normal purchase price adjustments and is now complete.