TOKYO: PTT Exploration & Production Pcl, Thailand’s biggest publicly-listed oil and natural gas explorer, agreed to pay about US$1bil cash for Hess Corp’s stakes in oil and gas assets in Thailand.
PTT Exploration, or PTTEP as the company is known, would gain stakes in the Pailin, Morakot and Ubon mainly oil fields as well as increasing their share in two producing gas fields in the deal, the Thai company said yesterday in a statement.
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