REFILE-Thai PTTEP says reviewing oil sands project in Canada

Tue Jan 7, 2014 12:39am EST
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BANGKOK Jan 7 (Reuters) - Thailand's top oil and gas explorer, PTT Exploration and Production Pcl (PTTEP) said on Tuesday it is reviewing its investment in the KKD oil sands project in Canada due to higher costs.

Chief Executive Tevin Vongvanich told reporters he expected to make a conclusion about the loss-making project this year.

PTTEP also expects to conclude a deal to buy stakes in Hess Corp's assets in Thailand in the first quarter of 2014 Tevin said.

The company recently joined with Indonesia's Pertamina to buy Hess Corp's stake in two Indonesian offshore oil fields for $1.3 billion.