PTTEP is poised to take advantage of its sound financial status — cash in hand is approximately US$3 billion and a low debt-equity ratio — to acquire further assets and bid for acreage in Thailand’s much-delayed 21st licensing round.

This round is now expected to be finally launched in 2017, some 10 years after the nation’s last licensing exercise.

Sources said that the latest licensing round is set to hit the streets in the middle of next year following final approval of the revised Petroleum Act, which is expected in March.

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