PTT Exploration and Production Plc is venturing into Brazil by taking a 25% stake in four deepwater blocks in the South American country.
The signing of the deal with BG E&P Brasil(BG Brasil) is the first step for the Thai company to expand its investment in South America, PTTEP chief executive Tevin Vongvanich said in a statement.
The four blocks -- BAR-M-215, BAR-M-217, BAR-M-252 and BAR-M-254 -- cover an area of about 3,077 square kilometres in the deep water of the northeastern Barreirinhas basin in the Atlantic Ocean.
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