PTTEP joins Australian exploration project
Thailand's PTT Exploration & Production PLC (PTTEP) agreed to farm into a 20% interest in three exploration blocks off northwestern Australia.
By an OGJ correspondent
BANGKOK, Jan. 14 -- Thailand's PTT Exploration & Production PLC (PTTEP) agreed to farm into a 20% interest in three exploration blocks off northwestern Australia.
PTTEP became the fourth stakeholder in Blocks WA-378-P (3,634 sq km), WA-396-P (4,467 sq km), and WA-397-P (3,886 sq km), joining the joint venture led by Woodside Energy Ltd.
The farmin represents PTTEP's fifth venture in Australia where the state-owned firm is seeking to further its presence.
The JV plans to drill an exploration well this year after seismic showed “great potential for gas,” said PTTEP Chief Executive Anon Sirisaengtaksin.
After PTTEP's 20% farmin, Woodside has a 50% stake in those permits, Mitsui E&P Australia Pty. Ltd. holds 20%, and Toyota Tsusho Gas E&P Browse Pty. Ltd. has 10%.