PTTEP to suspend Indonesia investment

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.