Partex Oil and Gas (Holdings) Corporation is an oil company owned by PTT Exploration and Production, a company based in Thailand. [1] It was previously owned by the Calouste Gulbenkian Foundation, from Lisbon, Portugal, until it was sold in June 2019. [2]
Prior to the First World War, Calouste Gulbenkian was the entrepreneur behind the formation of the Turkish Petroleum Company which, after many vicissitudes, became the Iraq Petroleum Company in which he held a 5% interest (becoming known as Mr. Five Percent as a result [3] ). The contract between Royal Dutch Shell, Anglo Persian (now BP), Compagnie Française des Pétroles (now Total), Near East Development Company (ExxonMobil) and Calouste Gulbenkian was signed in July 1928. At the same time the partners undertook to work together within the boundaries of the former Ottoman Empire - the Red Line Agreement. This agreement had a fundamental influence on the future development of the oil reserves in the Middle East and led directly to the Partex Oil and Gas Group's present interests in the United Arab Emirates and the Sultanate of Oman.
In 1938, before the beginning of the Second World War, Calouste Gulbenkian incorporated in Panama a company to hold his assets in the oil industry. It was Participations and Explorations Corporation from which came the name Partex.
Calouste Gulbenkian spent the final years of his life in Lisbon, Portugal, where he died in 1955. In his will, he left his oil interests and his art collection to a foundation, which was to be based in Lisbon, Portugal: the Calouste Gulbenkian Foundation.
The Iraq concession was nationalized in 1972, but it's still active in Abu Dhabi and Oman through its joint ventures/concession companies which includes ADPC, ADCO, and POHOL (Private Oil Holdings Oman Ltd.). [4] It also holds concessions in other countries like Kazakhstan, Algeria and Brazil and explores in the Peniche basin in Portugal.
In June 2019, the Calouste Gulbenkian Foundation signed an agreement to sell Partex to PTT Exploration and Production, a Thai state-owned enterprise for $622 million (about €555 million). [5]
The Partex Oil and Gas Group is basically organized by geographical areas and holds interests in concessions and joint ventures engaged in upstream activities related to the oil and gas industry, namely exploration, development, production and sales. The Group is headed by a holding company incorporated in Cayman Island with sub-holding companies, management units, concession companies and service companies that provide to the joint ventures and operating companies in which the Group participates all the necessary advice and financial, technical, management and human resources support that they require, in accordance with the strategy and guidelines defined by the Holding.
Partex Oil and Gas has access to oil and gas assets based on the percentage ownership of resources estimated to be produced throughout the remaining life of the concessions in which the Group participates. The oil and gas resources of the Group at the end of 2005 reached 215 million barrels of oil equivalent, showing a clear increase in relation to 2004.[ citation needed ]
Calouste Sarkis Gulbenkian, nicknamed "Mr Five Per Cent", was a British-Armenian businessman and philanthropist. He played a major role in making the petroleum reserves of the Middle East available to Western development and is credited with being the first person to exploit Iraqi oil. Gulbenkian travelled extensively and lived in a number of cities including Istanbul, London, Paris, and Lisbon.
Petroleum Development Oman (PDO) is the leading exploration and production company in the Sultanate of Oman. The Company delivers the majority of the country's crude oil production and natural gas supply. The company is owned by the Government of Oman, Royal Dutch Shell (34%), TotalEnergies (4%) and Partex (2%). The first economic oil find was made in 1962, and the first oil consignment was exported in 1967.
The Iraq Petroleum Company (IPC), formerly known as the Turkish Petroleum Company (TPC), is an oil company that had a virtual monopoly on all oil exploration and production in Iraq between 1925 and 1961. It is jointly owned by some of the world's largest oil companies and headquartered in London, England. However, today it is only a paper entity with historical rights and plays no part in the modern development of Middle Eastern oil.
The Calouste Gulbenkian Foundation, commonly referred to simply as the Gulbenkian Foundation, is a Portuguese institution dedicated to the promotion of the arts, philanthropy, science, and education. One of the wealthiest charitable foundations in the world, the Gulbenkian Foundation was founded on 18 July 1956 according to the last will and testament of Calouste Sarkis Gulbenkian, a Portugal-based oil magnate who bequeathed his assets to the country in the form of a foundation.
APA Corporation is the holding company for Apache Corporation, an American company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Houston. The company is ranked 431st on the Fortune 500.
Pharos Energy Plc, previously SOCO International, is an oil and gas exploration and production company, headquartered in London. The company changed its name to Pharos Energy Plc in October 2019 after coming under fire for illegal activity in Virunga.
The Red Line Agreement is an agreement signed by partners in the Turkish Petroleum Company (TPC) on July 31, 1928, in Ostend, Belgium. The agreement was signed between Anglo-Persian Company, Royal Dutch/Shell, Compagnie Française des Pétroles, Near East Development Corporation and Calouste Gulbenkian, who retained a 5% share. The aim of the agreement was to formalize the corporate structure of TPC and bind all partners to a "self-denial clause" that prohibited any of its shareholders from independently seeking oil interests in the ex-Ottoman territory. It marked the creation of an oil monopoly, or cartel, of immense influence, spanning a vast territory. The cartel preceded easily by three decades the birth of another cartel, the Organization of Petroleum Exporting Countries (OPEC), which was formed in 1960.
PTT Public Company Limited or simply PTT is a Thai state-owned SET-listed oil and gas company. Formerly known as the Petroleum Authority of Thailand, it owns extensive submarine gas pipelines in the Gulf of Thailand, a network of LPG terminals throughout the kingdom, and it is involved in electricity generation, petrochemical products, oil and gas exploration and production, and gasoline retailing businesses. The company also owns Café Amazon, a popular coffee chain throughout South East Asia, which shops are often located next to PTT gas stations or inside malls.
The Yadana gas field is an offshore gas field in the Andaman Sea. It is located about 60 kilometres (37 mi) offshore to the nearest landfall in Myanmar. The gas field is an important source of revenue for the Myanmar Army. Gas from Yadana is used to generate about 8 percent of the electricity in neighbouring Thailand and around half of all electricity in Myanmar’s largest city, Yangon.
The mineral industry does not play a significant role in the economy of São Tomé and Príncipe.
Heritage Oil is an independent Jersey-based oil and gas exploration and production company. Its activities are focused on Africa, the Middle East and Russia. In June 2014, the company was acquired by a fund owned by the former chief executive of Qatar's sovereign wealth fund.
The Malaysia–Thailand Joint Development Area is a 7,250 km square area in the Gulf of Thailand which was created as an interim measure to exploit the natural resources in the seabed or continental shelf claimed by the two countries and to share the proceeds equally. The arrangement does not extinguish the legal right to claims by both countries over the area. This is one of the first applications of the joint development a memorandum of understanding on 21 February 1979 in Chiang Mai, Thailand for the establishment of the joint development area and authority to administer the area. This was followed by an agreement to constitute the joint development authority on 30 May 1990 in Kuala Lumpur, Malaysia.
Crescent Petroleum is the first and largest private upstream oil and gas company in the Middle East. Founded in 1971, Crescent Petroleum is headquartered in the Emirate of Sharjah, United Arab Emirates (UAE), with current operations in both the UAE and the Kurdistan Region of Iraq (KRI). As of 2023, Crescent Petroleum and the Iraqi Ministry of Oil have signed three twenty-year contracts as the company focus it efforts in aiding the redevelopment of Iraq.
OQ, formerly known as Oman Oil Company, is an energy investment company headquartered in Muscat, Oman. It is a wholly owned subsidiary of the Government of Oman through the Oman Investment Authority.
The Ministry of Energy and Minerals (MEM) is the governmental body in the Sultanate of Oman responsible for developing and implementing the government policy for exploiting the oil and gas resources in Oman.
The Petroleum Division, is a part of Ministry of Energy (Pakistan) responsible for ensuring the availability and security of sustainable supply of oil and gas for economic development and strategic requirements of Pakistan and to coordinate development of natural resources of energy and minerals.
Cove Energy plc, also known as Cove, was a London-headquartered oil and gas exploration company with assets in East Africa. The company was created in June 2009. In 2012, following significant gas discoveries offshore Mozambique, Royal Dutch Shell and PTT Exploration and Production (PTTEP), a subsidiary of Thailand's national oil company PTT Public Company Limited, engaged in a prominent bidding war to acquire Cove. Ultimately, the company was sold in August 2012 to PTTEP.
PTT Exploration and Production Public Company Limited, also known as PTTEP, is a national petroleum exploration and production company based in Thailand. It is a subsidiary of the state-owned PTT Public Company Limited. The company was founded on 20 June 1985.
Rex International Holding is an oil and gas company headquartered in Singapore and listed on the Singapore Exchange Securities Trading Limited’s Mainboard. The company was publicly listed on 31 July 2013 on Singapore Exchange's secondary board Catalist and started trading on the Singapore Exchange's Mainboard on 8 March 2022.
The Petroleum Institute of Thailand (PTIT) is a non-profit organisation supporting the upstream oil and gas industry as well as the downstream petroleum and petrochemical industry in Thailand.
