PTTEP Keen To Buy Stake In Myanmar Gas Field From Chevron
PTT Exploration and Production Pcl (PTTEP), Thailand’s largest oil and gas explorer, said on Tuesday it was keen to buy a stake in Yadana gas field in Myanmar from Chevron Corp, according to reports by Rueters .
PTTEP, the flagship in the upstream business of PTT Pcl , was in talks to buy stakes in several oil and gas fields in Thailand and Southeast Asia, and expected to conclude at least one deal this year, Pannalin Mahawongtikul, executive vice president for finance, reportedly stated.
PTTEP, which is also interested in buying a stake in Bongkot offshore gas field from BG Group, has cash of $3.7 billion, enough for acquisitions, Pannalin said. “We focus on projects which are operating, so that we can book revenue immediately after the purchase,” she said adding Myanmar will be the company’s major investment outside Thailand.
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