Thailand’sstate-ownedPTT Exploration and Production Public Co. Ltd has made an offer to acquire Cove Energy Plc for £1,119.6 million ($1,773.9 million).
Offshore staff
BANGKOK, Thailand –Thailand’sstate-ownedPTT Exploration and Production Public Co. Ltd has made an offer to acquire Cove Energy Plc for £1,119.6 million ($1,773.9 million).
This comes following aShell offer last week for Cove of $1,570 million.
Cove holds 8.5% interest in Mozambique’sRovuma Offshore Area 1 gas discovery with estimated reserves of 30 tcf. Cove also holds interests in seven blocks offshore Kenya in deepwater.
