Major Oil Explorer Buys Hess Thailand
PTT Exploration and Production Pcl (PTTEP), Thailand's top oil and gas explorer, has bought Hess Corp's assets in Thailand in a deal worth $1 billion as part of its attempt to boost its gas business, the company's CEO said on Wednesday.
"The deal is worth $1 billion. We have acquired the whole shares of Hess Thailand Holdings II Limited and Hess Exploration Thailand Company Limited," Chief Executive Tevin Vongvanich said in a statement.
(Reporting by Apornrath Phoonphongphiphat; editing by Paul Tait)