PTTEP Eyeing Hess' Oil, Gas Assets in Thailand, Indonesia

Thailand’s PTT Exploration and Production (PTTEP) is looking to buy Hess Corp’s hydrocarbon assets in Indonesia and Thailand, PTTEP's CEO, Tevin Vongvanich was quoted by news agency Reuters as saying.

Hess and Newfield Exploration Co have put stakes in two fields in Indonesia and two in Thailand under separate auction with combined value of about $3 billion, people familiar with the matter told Reuters.

Vongvanich said that his company was interested in Hess’ assets because PTTEP was already partnering the US firm in two Thai fields, the news agency reported

"For assets in Indonesia, this is a good opportunity for us to expand our investments in the country where we already have operations," the CEO said, without giving details.

According to Reuters this is the first time PTTEP has confirmed its interest in the Hess assets.

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