News Detail

Date/Time
30 Nov 2018 17:14:00
Headline
Update the progress and completion of the investment in OKEA AS
Symbol
BCP
Source
BCP
Full Detailed News
Download Full Detailed News
                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.