'With little appetite from owners to add new rigs as rig demand is flattening out, we believed growth would be inorganic', Wood Mackenzie's Principal Analyst of Upstream Supply Chain said.
'The acquisition of the Ghasha Concession, a significant natural gas field, marks an important step in strengthening PTTEP's Middle East investment portfolio'.
The wireline logging data, reservoir fluid samples and other geoscience data will be subject to laboratory analyses and further studies to determine the resource potential of the hydrocarbon zones encountered to date.