LONDON: Thailand's PTT Exploration and Production is in the box seat to complete a US$1.9bil takeover of Cove Energy Plc and gain access to massive gas finds off the coast of east Africa after Royal Dutch/Shell bowed out of a five-month bidding war.
Acquiring Cove will give PTT E&P exposure to the giant offshore discoveries made in East Africa in the past year. The area looks set to emerge as a major supply province and is well-situated to export into Asia.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!