Pan Orient Energy buy to boost Dialog’s output

POEC is a mature oilfield asset that has a low operational cost of US$7 (RM30.74) per barrel. Dialog plans to purchase the onshore concession in Thailand for US$38.7mil (RM170mil). This will be Dialog’s first overseas upstream oil venture.

PETALING JAYA: The potential inclusion of Pan Orient Energy Corp (POEC) into Dialog Group Bhd’s portfolio of upstream oil and gas assets could raise its oil production by 50%.

This will also give it a near-term earnings boost, backed by strong oil prices, analysts say.