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Shell to sell stake in Thai gas field to PTT unit for $750m

Concession will expire by 2023, but PTTEP hopes to win upcoming auction

A gas rig operated in the Gulf of Thailand by state-owned PTT Exploration and Production (PTTEP).

BANGKOK -- Royal Dutch Shell will sell its 22.22% stake in a major gas field in the Gulf of Thailand to Thailand's PTT Exploration & Production, the exploration and production arm of state-owned energy firm PTT, for $750 million.

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