UPDATE 1-Thai PTT Exploration plans $13 bln investment

* Sets $13 bln investment budget over next five years

* To spend $3 bln on projects in 2010

* Expects rising average petroleum sales from 2010-2014 (Adds details)

BANGKOK, Jan 11 (Reuters) - Thailand's PTT Exploration and Production PCL PTTE.BK (PTTEP) said on Monday it had earmarked 429 billion baht ($13 billion) for investment from 2010 to 2014 in gas exploration projects.

The company told the stock exchange that this year it would spend 98.4 billion baht ($3 billion), mainly for projects in Australasia, Bongkot, Arthit, Myanmar M9 and M11, a joint development area of Malaysia and Thailand MTJDA-B17, and its S1 project, it said.

PTTEP, 66 percent owned by top Thai energy firm PTT PCL PTT.BK, has a total 42 projects, of which 18 are under production, four under developement and 20 under exploration.

It also said it expected average petroleum sales this year of 253,796 barrel of oil equivalent per day, increasing to 307,027 barrel in 2014.

At the midday break, PTTEP shares were up 1.35 percent at 150.50 baht, while the main stock index .SETI was 0.96 percent higher. ($1=33.04 Baht) (Reporting by Arada Kultawanich; Editing by Alan Raybould)