International law firm Ashurst acted for PTT Trading, the trading arm of Thailand's leading state-owned energy firm PTT, as buyer on a five-year US$600 million oil-backed contract with PetroEcuador, Ecuador's state-run oil company.

Jean Woo, the lead lawyer on the transaction said, "This is a significant step in the growth of PTT Trading's trading business, and we are delighted to have had the opportunity to support the company on this transaction."

Previously, Ashurst has also acted for PTT Trading on its first US$2.5 billion oil-backed contract with PetroEcuador in July 2015.

The Ashurst team was led by counsel Jean Woo, supported by partner Philip Thomson, senior associate Jessica Ham and associate Harriet Gray.