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.
The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business.
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.