PTTEP Australia
PTTEP Australia is a wholly-owned subsidiary of PTT Exploration and Production Public Company Limited (PTTEP), the Thai national petroleum exploration and production company.
Listed on the Thai Stock Exchange, PTTEP operates more than 40 projects globally. Find out more about our global operations here.
In Australia, PTTEP maintains a 100% interest in the highly prospective Cash Maple gas and condensate field, as well as a number of other exploration permits and retention leases in Australian Commonwealth waters.
Projects
Cash Maple
PTTEP plans to commercialise the highly prospective Cash Maple gas and condensate field in the Timor Sea off northern Western Australia.
The Cash-Maple project contains an estimated 3.5 TCF of resources.
Cash Maple is located approximately 680km west of Darwin and 700km northeast of Broome.
Development of the gas fields will require a multi-billion dollar investment.
Key Milestones
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 net pay thickness around 34 metres. The result is in line with PTTEP’s expectation and will be incorporated into development planning.
News
Court Approval on Deed of Settlement in Class Action
28 February 2023
PTTEP Australasia (Ashmore Cartier) Pty Ltd (PTTEP AA) reached an agreement with the Applicant, Mr Sanda, and the Group Members he represents, in full and final settlement of the class action (including PTTEP AA’s appeal).
PTTEP AA’s decision to settle the class action was a commercial one. The settlement does not represent an admission of liability by PTTEP AA for the claims of Mr Sanda and the Group Members.
On 23 February 2023, the settlement was approved by the Federal Court of Australia, which determined that the settlement is fair and reasonable.
Media contact: Tim Larcombe tim@prperth.com
In-principle settlement of Class Action in Australia, Sanda v PTTEP Australasia
21 November 2022
PTTEP Australasia (Ashmore Cartier) Pty Ltd (PTTEP AAA) participated in mediation in the Montara class action, as ordered by the Federal Court of Australia. Such mediation requirement was in line with the normal legal process under Australian Law for class actions.
During such mediation, PTTEP AAA reached an in-principle agreement with the group of Indonesian seaweed farmers, that PTTEP AAA will pay AUD192,500,000 (equivalent to approx. USD129,000,000), in full and final settlement of the class action (including PTTEP AAA’s appeal).
The in-principle settlement was made on a no admission of liability basis and is subject to court approval. Further details of the in-principle settlement cannot be published at this stage.
Media contact: Tim Larcombe tim@prperth.com
Appeal of Class Action judgment in Australia, Sanda v PTTEP Australasia
13 December 2021
PTTEP Australasia (Ashmore Cartier) Pty Ltd (PTTEP AA) remains disappointed in the decision of the Federal Court of Australia. After careful consideration of the decision, PTTEP AA has exercised its right to appeal.
PTTEP AA emphasises that the decision related to Mr Sanda’s claim and certain limited questions common to the claims of Mr Sanda and Group Members. However, the Group Member claims remain statute barred. The court’s decision does not negate the requirement for each Group Member to obtain leave of the court to pursue their claims out of time and, if leave is granted, to then prove their loss and damage. They will only be entitled to compensation if they are successful in those processes.
Media contact: Tim Larcombe tim@prperth.com
Class Action judgment, Sanda v PTTEP Australasia in Australia
19 March 2021
PTTEP acknowledges the decision of the Federal Court of Australia but is disappointed in the outcome.
PTTEP emphasises the judgment relates to Mr Sanda’s claim, and that the claims of all the Group Members are statute barred and must be determined separately.
The court’s decision does not negate the requirement for individuals to demonstrate their actual loss and damage.
PTTEP is carefully considering the judgment and the available avenues of appeal.
Media contact: Tim Larcombe tim@prperth.com
Update: Class Action against PTTEP Australasia in Australia
14 June 2019
PTTEP Australasia (Ashmore Cartier) Pty Ltd has no comment on the matter at this time as it is currently before the Australian courts.
See the 2013 Report of Research for more information (8.9Mb).
Montara Environmental Monitoring Program – 2009-2013: A Voyage of Discovery
PTTEP makes new gas discovery offshore Australia
8 March 2019
PTT Exploration and Production Public Company Limited (PTTEP) of Thailand announced that PTTEP Australasia (Ashmore Cartier) Pty Ltd, a wholly owned subsidiary of PTTEP, had made a successful discovery of gas and condensate at Orchid-1, the first exploration well in Permit AC/P54 located in the Timor Sea, Australia. Read more
PTTEP sells Montara Project
16 July 2018
PTTEP Australasia (Ashmore Cartier) Pty Ltd sold its 100% stake in the Montara field to align with the company’s business strategy aimed to focus on operations and projects in the strategic locations. Read more
Contact Us
Perth, Western Australia
PTTEP Australia
Level 5, 225 St Georges Terrace
Perth WA 6000
Telephone: +61 08 9483 9483
PTTEP Head Office, Bangkok, Thailand
PTT Exploration and Production Public Company Limited
Energy Complex Building A
6th Floor & 19th – 36th Floor
555/1 Vibhavadi Rangsit Road
Chatuchak, Chatuchak
Bangkok 10900 Thailand
Telephone: +66 0 2537 4000