KrisEnergy exits G3/48 in Thailand due to pre-emption
Gives way to existing partner.
Independent upstream oil and gas company KrisEnergy Ltd. (KrisEnergy) announced that the company has withdrawn from the acquisition process for a 60% operated working interest in the G3/48 exploration licence in the Gulf of Thailand as a result of an existing partner exercising its right of pre-emption over the acquisition.
KrisEnergy assured though that it continues to actively seek and assess new venture opportunities in its ongoing strategy to enhance its portfolio in all basins within a focus area stretching from Bangladesh in the West to West Papua in the East, and from offshore southern China in the North to Indonesia in the South.