PTTEP to sus­pend In­done­sia in­vest­ment

New Straits Times - - Business -

BANGKOK: PTT Ex­plo­ration and Pro­duc­tion PCL said yes­ter­day it was sus­pend­ing in­vest­ment in In­done­sia af­ter the In­done­sian govern­ment filed a US$2 bil­lion (RM8.68 bil­lion) law­suit against the Thai state-owned energy firm for al­leged dam­age from an oil spill eight years ago. Its ex­ec­u­tives said In­done­sia re­mained a strate­gic pri­or­ity as it seeks to in­vest up to US $4 bil­lion in ex­pand­ing its energy field hold­ings. They also added that the com­pany’s In­done­sia as­sets could not be seized.

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.