WorldOil Cash-rich Thai explorer eyes assets worth up to $1 billion Thailand’s PTT Exploration and Production Pcl is ready to shell out as much as $1 billion on an overseas petroleum asset this year, and possibly more, as it tries to prop up growth amid falling reserves. Shell to sell stake in Thailand’s Bongkot field for $750 million Shell Integrated Gas Thailand Pte Ltd. and Thai Energy Company Ltd., affiliates of Royal Dutch Shell Plc, have agreed to an asset sale of their 22.2222% interest in Bongkot field and adjoining acreage offshore Thailand to PTT Exploration and Production Public Company Limited (PTTEP) and PTTEP International Limited. Asian investor steps into America's shale gas market A relentless flow of natural gas from America’s shale basins is drawing bears to the market—and that’s music to the ears of at least one Asia-backed investor. KrisEnergy commences Gulf of Thailand drilling campaign KrisEnergy Ltd., an independent upstream oil and gas company, has announced that on Oct. 20, 2017, the PV DRILLING I jackup rig commenced drilling of the East Mayura-1 exploration well in the G10/48 contract area in the Gulf of Thailand. Shell, Kuwait's KUFPEC cancel share sale for two Shell subsidiaries in Thailand Royal Dutch Shell announces today that its subsidiary, BG Asia Pacific Holdings Pte Limited, and KUFPEC Thailand Holdings Pte Limited, a subsidiary of Kuwait Foreign Petroleum Exploration Company (KUFPEC), have mutually agreed to cancel the sale and purchase agreement for the share sale of Shell Integrated Gas Thailand Pte. Limited (SIGT) and Thai Energy Co Limited (TEC). Gazprom Neft, Thailand's PTT partner on Russian EandP operations Gazprom Neft and PTT, Thailand’s largest oil and gas company, have signed a memorandum of understanding (MoU), promoting mutually-beneficial cooperation between the two companies. The document was signed by Alexander Dyukov, CEO of Gazprom Neft, and Tevin Vongvanich, president of PTT. Collaboration delivers LWD triple-combo breakthrough for ultra-high-temperature wells As exploration efforts go into deeper, hotter and more remote offshore basins, the need for more advanced downhole drilling and logging tools is palpable. Accordingly, a new LWD toolstring that provides real-time downhole data, while withstanding 410°F temperatures, has been developed and tested in the harsh Gulf of Thailand. Ophir Energy to commence fourth phase of development at Bualuang, Gulf of Thailand Ophir Energy has announced that a Final Investment Decision has been taken to commence the fourth phase of development at Bualuang oil field in the Gulf of Thailand. Global gas market battered by glut gets eager buyer in Thailand Thailand has a message for embattled global LNG sellers: It’s going on a shopping spree. Armed with $11 billion, Thai oil giants hunt for investments The Asian energy companies sitting on the largest hoard of cash outside China are ready to put it to use.