Report: Thailand’s PTT keen on buying Petronas stake in Sarawak block

Thailand’s oil and gas company PTT has reportedly shown interest in buying Petronas’ stake in the SK316 block offshore Sarawak. 

Earlier this week, Reuters reported that Malaysia’s Petronas was aiming to sell as much as 49 percent in the gas project off Sarawak for up to $1 billion. If undertaken, the move would be one of Petronas’ first major recent sales as the company is grappling with the lower oil price.

On Wednesday, Reuters reported that Thailand’s PTT was interested in buying the stake from the Malaysian state-owned oil and gas company.

“Petronas are interested in selling SK316 and we are interested because this is an upstream business,” Reuters quoted PTT Chief Executive, Thewin Wongwanich, as saying.

The Thai-state-owned PTT is a parent company of PTT Exploration and Production (PTTEP).

Offshore Energy Today Staff

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