Thailand's OMV and Austria's PTTEP are interested in the $5bn Southeast Asia offshore gas assets of US oil and gas producer Hess, according to unnamed sources. Hess owns gas assets in the North Malay Basin and the Malaysia-Thailand Joint Development Area in a 50/50 partnership with Petronas. Hess has not been profitable since 2014 and is under pressure from investors, because other oil and gas companies have started to make a profit. Meanwhile, Hess is developing sizeable offshore oil projects in South America and US shale.
Thailand's PTTEP and Austria's OMV are interested in the $5bn Southeast Asia offshore gas assets of US oil and gas producer Hess, according to unnamed sources. Hess owns gas assets in the North Malay Basin and the Malaysia-Thailand Joint Development Area in a 50/50 partnership with Petronas. Hess has not been profitable since 2014 and is under pressure from investors, because other oil and gas companies have started to make a profit. Meanwhile, Hess is developing sizeable offshore oil projects in South America and US shale.