PTT to expand investment in RI

PTT to expand investment in RI

BANGKOK : Thailand's PTT Exploration & Production PCL is planning to
expand investment in Indonesian gas fields in a bid to increase
its supply to meet growing natural gas demand in its home market.

Maroot Mrigadat, the company's newly-appointed President, told
reporters PTTEP is in talks with its 34 percent-owned Indonesian
exploration and production affiliate Medco Energi International,
to buy stakes in three of Medco's gas fields.

"We are in talks with Medco to directly hold stakes in its gas
fields. Details on the investment should be finalized next year,"
Maroot said in Bangkok, Thailand.

Maroot said PTTEP is interested in the Senoro-Toili field in
Sulawesi as well as Yapen and Rombebai fields in Iran Jaya,
however, he declined to mention the size of the stakes to be
purchased.

"Generally, we'd like to hold around 25-30 percent in the
overseas fields," he added. -- Dow Jones