PTTEP ties up with parent to diversify revenue stream

Singapore

THAILAND'S state-owned PTT Exploration & Production (PTTEP) is teaming up with its parent company to pursue integrated gas business opportunities in a bid to diversify its revenue stream from the adversely affected upstream oil and gas sector.

PTTEP chief operating officer Phongsthorn Thavisin told reporters at Offshore Technology Conference (OTC) Asia 2016 "one of the strategies" the state player is employing in coping with the reality of operating under a volatile hydrocarbon price environment is to join hands with the parent utility group PTT, not just to develop new reserves but also to offer solutions for further processing and transportation of natural gas to end customers.