(Bangkok Post file photo)PTT Exploration and Production (PTTEP) said on Tuesday it was suspending investment in Indonesia after the Indonesian government filed a $2-billion lawsuit against the Thai state-owned energy firm for alleged damage from an oil spill eight years ago. PTTEP executives, however, said Indonesia remained a strategic priority as it seeks to invest up to $4 billion in expanding its energy field holdings with a focus on Southeast Asia. Indonesia's government is suing state-owned PTTEP and its parent company PTT over damage from the spill in the Timor Sea. Indonesia alleges that the oil spill also fouled its waters and coast. PTTEP Australasia has said no oil reached Indonesia's shore and no long-term damage was done in the Timor Sea.

Source: Bangkok Post May 09, 2017 06:00 UTC