Business Overview

PTTEP operates over 50 petroleum exploration, development and production projects in more than 10 countries across several regions with the primary focus on Southeast Asia and the Middle East as well as other petroleum-prolific areas displaying investment opportunities.

In Thailand, we are the operator of major petroleum fields, including G1/61, G2/61, Arthit and S1 projects. We also partner in several joint venture projects both onshore, and offshore areas in the Gulf of Thailand.

Overseas, PTTEP invests in many key projects as an operator including the Algeria Hassi Bir Rekaiz, a vital oil production project of PTTEP in Africa; Block H, a major gas production project in Malaysia; and the SK410B in Malaysia where we made our largest-ever gas discovery at Lang Lebah field. The latter is currently in the exploration phase. Our joint venture projects include the Oman Block 61 Project, a sizeable onshore gas block that is crucial for Oman’s domestic market; the Abu Dhabi Offshore 2 Project, where a substantial natural gas reserve was discovered; and the Mozambique Area 1 Project, a large-scale liquefied natural gas (LNG) facility in Africa.

To further support exploration and production business, PTTEP also invest in midstream businesses such as Oman LNG (OLNG), the only LNG facility in Oman; and ADNOC Gas Processing (AGP), the largest onshore gas processing facility in Abu Dhabi, the United Arab Emirates.

Beyond petroleum exploration and production business, PTTEP has diversified into new businesses involving new forms of energy, advanced technology and decarbonization. These initiatives will support us in achieving a low-carbon organization goal and future growth, and help other industries, apart from energy, in their operations such as agriculture and healthcare industries. Driving these initiatives, we have established subsidiaries including AI and Robotics Ventures Company Limited (ARV), FutureTech Energy Ventures Company Limited (FTEV), as well as Xplor Ventures Company Limited. The latter of which is a corporate venture capital setting up to invest in emerging technology startups.

Among key technologies for a green future that PTTEP is focusing on is the Carbon Capture and Storage (CCS). PTTEP is studying CCS project development in Thailand and overseas, with an aim to reduce carbon emissions from petroleum and other industries. We have initiated Thailand’s first CCS project at Arthit field in the Gulf of Thailand and is also studying the Carbon Capture and Utilization (CCU) technology to convert carbon dioxide to high value products such as methanol. We are also interested in the development of future energy, such as hydrogen, as a new energy source for the future. In June 2023, FTEV made a significant milestone in clean energy business by investing in the development of a large-scale green hydrogen project in Oman which is expected to commence production in 2030.