30 Nov 2018 17:14:00
Update the progress and completion of the investment in OKEA AS
Pursuant to the meeting of the board of directors of Bangchak Corporation Public Company Limited (the "Company") no. 8/2561 held on 14 June 2018 which resolved and approved the Company's investment plan, through its subsidiary, by means of subscription of newly issued shares of OKEA AS ("OKEA"), a company established under the laws of Norway, of which OKEA will then acquire the petroleum fields in Norway, being Draugen Field and Gj?a Field, from A/S Norske Shell ("Shell"), and the Company disclosed such information on 20 June 2018 and 2 July 2018, the Company would like to update the progress and completion of such investment as elaborated herein. BCPR Pte. Ltd. (a company established under the laws of Singapore which is a subsidiary of the Company through BCPR Co., Ltd., a company established under the laws of Thailand) completely subscribed for newly issued shares of OKEA at the total investment amount of NOK 938,518,221.50 (or approximately THB 3,650 million ). The shares allotted to the Company is equal to 49% of total shares in OKEA. On 30 November 2018, OKEA paid the purchase price in respect of the petroleum fields in Norway, being Draugen Field and Gj?a Field, to Shell in accordance with the agreements regarding the assignment of a participating interest between Shell and OKEA, and has completely acquired all interest in such petroleum fields from Shell, OKEA will be an operator of Draugen Field from 1 December 2018 onwards. ______________________________________________________________________ This announcement was prepared and disseminated by listed company or issuer through the electronic system which is provided for the purpose of dissemination of the information and related documents of listed company or issuer to the Stock Exchange of Thailand only. The Stock Exchange of Thailand has no responsibility for the correctness and completeness of any statements, figures, reports or opinions contained in this announcement, and has no liability for any losses and damages in any cases. In case you have any inquiries or clarification regarding this announcement, please directly contact listed company or issuer who made this announcement.