Aabar boosts Thai exploration acreage with two new concessions

Source: www.gulfoilandgas.com 1/21/2008, Location: Asia

Aabar Petroleum Investments Company PJSC (“Aabar”) announces that its subsidiary Pearl Energy Limited has been awarded two petroleum contracts by the Thai authorities for block G2/50 offshore in the Gulf of Thailand and onshore block L21/50.

Block G2/50, which is held 100% by Pearl Oil (Petroleum) Limited, covers an area of 1,126 sq. km and is adjacent to concession area B5/27, where Pearl operates the producing Jasmine oil field. L21/50 is 100% held by Pearl Oil (Resources) Limited and covers 3,962 sq. km in the Khorat Basin in the northeast of Thailand.

Aabar, through its wholly owned Pearl subsidiaries, operates an additional eight concession areas offshore in the Gulf of Thailand including Block B5/27 where the company’s flagship Jasmine oil field produces approximately 18,500 barrels of oil per day (“bopd”) gross.


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