Thailand’s PTT Exploration and Production said it will be looking for acquisitions in 2015, mainly in Thailand and Asia.

The company currently has about $3 billion worth of cash to finance acquisitions, debt repayment and investment, chief executive Tevin Vongvanich told reporters. PTTEP will be flexible about its investment plan over the next five years to align with the direction of oil prices while its parent PTT will review a business plan around mid 2015, he said. PTTEP has said it planned total expenditures of $24.3 billion during 2015-2019, with $4.83 billion for 2015.

Declining oil prices would not affect PTTEP’s earnings this year, because it had hedged the price for about 70 per cent of its total crude oil and condensate production, he said, adding that the company would maintain its hedging level at 70 per cent for next year.

It expected Dubai crude prices to be $70 a barrel on average next year, with PTTEP’s average selling price at $53 a barrel, he said.

Tevin said the company had postponed production from the Algeria oil project to the first quarter of 2015 from the fourth quarter of this year. Meanwhile, PTT said its board has approved a five-year investment plan (2015-2019) of 327 billion baht ($10 billion), half of the total in natural gas business.

State-controlled PTT aims to invest 85.5 billion baht in 2015 and 38.1 billion baht in 2016, mainly in natural gas business, its core, the company said in a statement.

PTT is on the lookout for acquisitions in the U.S. as slumping oil prices pressure drillers with limited access to new funding, according to PTT (PTT)’s chief financial officer.

“Maybe six months down the road, if oil prices remain weak, a number of operators could face difficulties, particularly in the States where a number of medium- to small-sized companies have been funded through speculative bonds,” Wirat Uanarumit said in an interview at his office in Bangkok.

“Funding could be more difficult to find.”