Thailand's PTT Pcl is interested in bidding for a stake in the SK316 offshore gas block in Malaysia's state of Sarawak, Chief Executive Thewin Wongwanich says.
Feb 22 (Reuters) - Thailand's PTT Pcl is interested in bidding for a stake in the SK316 offshore gas block in Malaysia's state of Sarawak, Chief Executive Thewin Wongwanich said on Wednesday.
Reuters reported on Monday that Malaysian state-owned oil and gas firm Petronas aimed to sell a large minority stake in its prized upstream local gas project for up to $1 billion.
"Petronas are interested in selling SK316 and we are interested because this is an upstream business," Thewin told reporters in Bangkok.
Thewin said the board of PTT, the parent company of PTT Exploration and Production PCL (PPTEP), had approved 199 billion baht ($5.7 billion) for investment over the next four years, especially in the petroleum business.
(Reporting by Manunphattr Dhanananphorn; Editing by Clarence Fernandez)
Copyright 2017 Thomson Reuters. Click for Restrictions.
WHAT DO YOU THINK?
Click on the button below to add a comment.
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Most Popular Articles
From the Career Center
Jobs that may interest you