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Project Insights

Thailand’s PTTEP eyes more M&A deals

The Thai NOC recently announced a deal to acquire Murphy Oil's Malaysian assets and looks set to make further purchases, mainly in Asia The Thai NOC recently announced a deal to acquire Murphy Oil's Malaysian assets and looks set to make further purchases, mainly in Asia.
By Damon Evans 1 April 2019 Asia Pacific / Companies & Finance 0 34089
Petronas's Sabah oil and gas terminal. (Petronas)

Thailand’s PTTEP is seeking more acquisition deals, mainly in Asia, as it looks to expand its exposure to the deepwater and LNG sectors as well as to boost its short reserve life.

The cash-rich NOC recently announced a $2.13 billion deal to buy United States-based Murphy Oil’s Malaysian assets. Significantly, PTTEP will fund the Malaysian transaction using its cash on hand, now estimated at $4 billion, leaving nearly $1.9 billion in cash available for further M&A opportunities.

After announcing the Malaysian deal, which will be Southeast Asia’s...