October 29, 2013 / 5:21 AM / 4 years ago

Thai PTTEP says keen to buy Hess assets in Thailand, Indonesia

BANGKOK, Oct 29 (Reuters) - PTT Exploration and Production Pcl (PTTEP), Thailand’s top oil and gas explorer, is keen to buy Hess Corp’s assets in Thailand and Indonesia as part of its attempt to boost production and petroleum reserves, PTTEP’s CEO said on Tuesday.

U.S. energy companies Hess and Newfield Exploration Co have put stakes in two fields in Indonesia and two in Thailand under separate auction with combined value of about $3 billion, people familiar with the matter have said.

“We are interested in Hess’s assets because we are already partners in the two Thai fields,” Chief Executive Tevin Vongvanich told Reuters.

“For assets in Indonesia, this is a good opportunity for us to expand our investments in the country where we already have operations,” Tevin said, without giving details.

This is the first time PTTEP has confirmed its interest in the Hess assets.

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