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Oil exploration arm to negotiate asset swaps.
Byline: Yuthana Praiwan
Feb. 3--PTT Exploration and Production Plc (PTTEP), the exploration arm of PTT Plc, will engage in asset swaps of its petroleum exploration and production activities with foreign petroleum firms and organisations worldwide, according to the company's president Maroot Mrigadate.
"We want to reduce the risk of our investment in the concessions of which we have a high ownership proportion and want to expand our businesses both overseas and at home," he said.
PTTEP currently has 24 concessions and in 10 of them, it holds between 80-100 percent of the total interest.
Its concessions which are ripe for share swaps, ...
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Source: HighBeam Research, Oil exploration arm to negotiate asset swaps.