September 11, 2019 / 4:12 AM / 10 months ago

Thai PTTEP looks to sell down stakes in Australian petroleum permits

MELBOURNE, Sept 11 (Reuters) - Thailand’s PTTEP said on Wednesday it was looking to sell down stakes in its petroleum exploration permits in Australia, including the Cash Maple gas project, as part of a broader plan to focus on Southeast Asia and the Middle East.

PTT Exploration and Production PCL owns 100 percent of the Cash Maple project off northwestern Australia, which holds a gas resource of 3.5 trillion cubic feet.

“PTTEP is looking at risk-reward sharing opportunities in Cash Maple and other exploration permits in Australia,” a PTTEP spokesman said in emailed comments. (Reporting by Sonali Paul; Editing by Clarence Fernandez)

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