PTT Exploration and Production Plc on Thursday acquired Murphy Oil Corp in Malaysia in a deal worth $2.12 billion (67.25 billion baht) to strengthen its long-term growth in Southeast Asia.
The deal, made through its subsidiary, PTTEP HK Offshore Ltd, includes five petroleum exploration and production projects in Sabah and Sarawak states of the neighbouring country.
“The acquisition is highly significant to PTTEP’s growth in both the short and long term, strengthening our business in alignment with the strategic plan," PTTEP president and chief executive officer Phongsthorn Thavisin said. "We expect that it will boost up net sales volume around 48,000 barrels of oil equivalent per day immediately.”