Australian Government Concludes PTTEP AA’s Montara Incident

Mr. Tevin Vongvanich, the President and CEO of PTT Exploration and Production Public Company Limited or PTTEP, disclosed that PTTEP AA’s Montara incident was concluded by Australian government, with a totalling 510,000 (five hundred and ten thousand) Australian Dollars fine by the Darwin Magistrates Court to PTTEP Australasia (Ashmore Cartier) Pty Ltd (PTTEP AA), its wholly owned subsidiary.

During the Montara incident in 2009, PTTEP AA worked closely with the Australian government to handle the situation immediately. All 69 personnel on board at the time of the incident were evacuated safely, and the relief well drilling operations to stop the leak were successfully completed. The company also funds a long-term independent environmental monitoring program in the Timor Sea. Recently released independent scientific studies show no oil from Montara reached the Australian mainland or the Indonesian coastline.

PTTEP AA, since the incident, has developed and completed the implementation of the Montara Action Plan in consultation with the Australian government. “To date, we have met all the criteria set out by the Australian government. The company has significantly transformed its operations and culture. We aim to be a trusted, open and respected operator in the Australian oil and gas industry now and in the future.” Tevin added.

Australia is a major expansion hub for PTTEP for long term investment. The Montara project operated by PTTEP AA is ongoing, with the first oil production expected by the end of this year.

Montara field is located around 250 kilometers from the Northwest coast of Australia. It is one of the permits acquired from Coogee Resources in February 2009.

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Press Release, August 31, 2012