Thailand PTTEP to Continue Purchasing Overseas Oil Assets

It is reported that PTTEP plans to spend one billion U.S. dollars or more to acquire overseas oil assets this year, as the PTTEP, an upstream subsidiary of PTT, seeks to support growth while reserves are decreasing. PTTEP’s CEO Sompom states that PTTEP is negotiating the acquisition of oil, natural gas or liquefied natural gas assets in Southeast Asia and the Middle East.