Thailand’s PTT interested in Petronas offshore gas stake

The logo of PTT is pictured at an exhibition hall in Bangkok, Thailand, May 12, 2016. REUTERS/Athit Perawongmetha

Thailand’s PTT Plc 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.

Also Read: Malaysian major Petronas mulls $1b stake sale in offshore gas project

Thai energy major PTT to invest $1.83b over next 5yrs, to explore hotel biz

Reuters

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

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  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.