Thailand's PTTEP enters the void

Western oil and gas giants have pulled back from Asia. This has created opportunities for national oil companies in the region.

Tasked with securing natural resources for the country, Thailand’s PTT Exploration Production has been scouring the globe and picking up assets from Alberta to Mozambique.

However, Tevin Vongvanich, the company's 56-year old chief executive officer, has also been looking close to home. In April PTTEP, the upstream oil and gas arm of 66% state-owned PTT, bought the Thai assets of US oil and gas company Hess for $1 billion.

We initially look for assets around Thailand to supply to the Thai market, Vongvanich told FinanceAsia in a phone interview from Bangkok. An asset like Hess is going to be on our radar as it...

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