PTTEP interested in BG’s Thailand assets
Thailand’s state-backed PTT Exploration & Production has reportedly expressed an interest in UK BG’s Thai assets.
Thailand’s state-backed PTT Exploration & Production (PTTEP) has reportedly expressed an interest in UK BG’s Thai assets. BG holds a 22.2% stake in the producing offshore Bongkot field, on the market for around $1.2bn. Thai banking sources say that no foreign company is going to try to outbid PTTEP at home, while the lack of clarity on licence extension makes a foreign bid unlikely too. BG also holds three exploration permits in the highly prospective, but disputed waters of the 27,000 km² Thailand-Cambodia overlapping claims area (OCA). The Thai side of the OCA, where BG’s blocks sit, is considered more prospective than the Cambodian side. But BG declined to comment if those blocks were
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