Saudi Arabian Oil Company (Aramco) is looking to expand its presence in the Asian downstream market as it entered a new deal with Thailand’s state-owned oil and gas conglomerate PTT. 

The two companies signed a memorandum of understanding on Wednesday to deepen energy cooperation in the Asian country. 

The deal seeks to boost collaboration across crude oil sourcing and marketing of refining and petrochemical products and liquefied natural gas (LNG), the Saudi oil giant said on Thursday. 

The collaboration is also expected to cover other areas of activity, including blue and green hydrogen and various clean energy initiatives. 

(Writing by Cleofe Maceda; editing by Seban Scaria)