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