PTTEP Raise Interest In Hess Assets


News: Thailand's state-owned PTT Exploration and Production (PTTEP) has shown interest in purchasing US-based energy company Hess' properties in Thailand and Indonesia, reports Reuters. The move is part of PTTEP's strategy to expand its production and petroleum reserves. PTTEP is keen to acquire Hess's assets as the two companies are already partners in two fields in Thailand, said PTTEP CEO Tevin Vongvanich. The Thai company is interested in purchasing Hess' Indonesian assets as it will be a good opportunity for PTTEP to expand its investments in the country where it already has operations, Vongvanich added.

This article is tagged to:
Sector: Oil & Gas
Geography: Thailand, Indonesia