Armed with US$11b, Thailand oil giants hunt for investments

Bangkok

THE Asian energy companies sitting on the largest hoard of cash outside China are ready to put it to use.

Thailand's PTT Exploration & Production Pcl and its parent company, which have nearly US$11 billion combined in cash and marketable securities, are ready to spend to rescue declining oil and gas reserves, according to Chief Executive Officer Somporn Vongvuthipornchai.