PTTEP to sell Cash-Maple gas field this year: Press
Thai-state run PTT Exploration and Production (PTTEP) expects to sell Cash-Maple gas and condensate field in Australia in 2023, Bangkok Post reported on January 23.
The Cash-Maple field, located approximately 680km west of Darwin and 700km northeast of Broome, contains an estimated 3.5 trillion ft3 of resources.
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According to the PTTEP Australia website, drilling from the Cash-2 and Maple-2 appraisal wells in September 2011 and July 2012 respectively, provided “encouraging results indicating a larger gas resource than previously projected”. In 2019, the Orchid-1 exploration well encountered gas and condensate with a net pay thickness of around 34 m.
"But the area is too far and production costs would be high, driven by the construction of a gas pipeline. If we shift to liquefied natural gas production, the business will not be viable,” Bangkok Post quoted PTTEP CEO Montri Rawanchaikul as saying.
The sale of the Cash-Maple field is in line with PTTEP's plan to direct its investments to the Middle East and Southeast Asia, the newspaper reported.