The right to the block, which is situated in the northern part of Bahrain, is another milestone for the company because it gives PTT Exploration and Production Public Company Limited (PTTEP) an opportunity to expand co-operation and investment in the Middle East. Exploration block 2 has high petroleum potential.
Exploration block 2 covers an area of 2,228sq km. Initial studies showed that it has crude oil potential. PTTEP will be the operator and will hold 100% share. Exploration work will start after PTTEP signs the exploration and production sharing agreement with the National Oil and Gas Authority, which is expected to take place in the near future.
