MOECO and its partners extend Condensate Sales Agreement with PTT

May 7, 2013 Project

Mitsui Oil Exploration Co., Ltd. (MOECO) is pleased to announce that MOECO and its joint venture partners in the Gulf of Thailand, Chevron Thailand Exploration and Production, Ltd. (Chevron) and PTT Exploration and Production Public Company Limited (PTTEP) have reached agreement with PTT Public Company Limited (PTT) for the extension of their Condensate Sales Agreement from 2013 until 2022.

The existing Condensate Sales Agreement was signed by MOECO, Chevron and PTTEP in 1998 to supply condensate produced in the Gulf of Thailand to PTT. The condensate has been utilized as feedstock for Thailand's refining and petrochemical industries.

This contract extension demonstrates MOECO and its joint venture partners' long-term commitment to delivering energy to meet the increasing demands of the Kingdom of Thailand. MOECO aims to continue to contribute to the further economic growth of Thailand through the stable supply of energy.