Our Business

PTTEP conducts business in petroleum exploration, development and production, renewable energy, new forms of energy, and advanced technology emphasizing greenhouse gas emissions reduction toward the low-carbon and sustainable future.

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 in both onshore and offshore areas in the Gulf of Thailand.

Overseas, PTTEP invests in many key projects as the operator including the Algeria Hassi Bir Rekaiz Project, a vital oil field of PTTEP in Africa; Block H Project, a gas field in Malaysia; and the SK410B Project in Malaysia where we made our largest-ever gas discovery at Lang Lebah field. The latter is currently in the development phase. Our joint venture projects include the Oman Block 61 Project, a sizable 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 embracing renewable energy, new forms of energy such as offshore wind farm in Scotland, UK and Hydrogen in Oman, and advanced technology including for 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.

Innovates and develops cutting-edge AI & robotics solutions

Drives forward renewable energy and various forms of power

Explores investment opportunities in technology & innovation and digital asset as a venture capital firm

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 are 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.

Our Projects Worldwide

Fact Sheet

Spotlight

Gulf of Thailand Model: Unique E&P expertise for complex geological structure

The Gulf of Thailand Model embodies practical E&P knowledge that PTTEP attained from decades of experience in the Gulf of Thailand. The model enables maximizing hydrocarbons resources from the Gulf of Thailand’s challenging subsurface structure where hydrocarbon reservoirs are scattered over small, dispersed fields, and coupled with high temperature and pressure uncertainties. PTTEP learned and practiced exploration and drilling techniques and optimized the development of complex discoveries at a competitive cost. Known as the “Gulf of Thailand Model”, the knowledge becomes a standard practice that is also applicable to similar regions.

Our Major Discovery

Following multiple gas discoveries in Thailand and various other countries, PTTEP achieved a historic milestone in 2021 with the largest-ever gas discovery and gas reserves in our company’s history at the Lang Lebah-2 well located in the Malaysia SK410B Project The Lang Lebah field is estimated to hold 5–6 trillion cubic feet of gas in place. The project is currently in the development phase.

Green Hydrogen: Energy for the future

Green hydrogen is produced through the process of water electrolysis, powered by renewable energy sources such as solar or wind power. This environmentally friendly process generates zero emissions and has no adverse impact on global temperature levels. PTTEP, through its subsidiary, FutureTech Energy Ventures Company Limited (FTEV), has formed a consortium with five multinational companies. This consortium has successfully secured a contract to construct a significant green hydrogen production project in Block Z1-02, located in the Sultanate of Oman. Anticipated to commence commercial production in 2030, this project marks a major milestone in PTTEP’s endeavors to diversify into the clean energy sector, aligning with our commitment to promoting a low-carbon environment.

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Carbon Capture and Storage (CCS)

The transformative potential of Carbon Capture and Storage (CCS) technology in reducing carbon emissions cannot be overstated. In 2021, PTTEP initiated Thailand’s inaugural CCS research and development project at Arthit field in the Gulf of Thailand. A parallel project is currently underway at Lang Lebah field in Block SK410B, Malaysia. Collaborating closely with fellow members of the PTT Group, we are also actively conducting the feasibility study on the implementation of CCS technology in PTT Group’s operational sites in Rayong and Chonburi provinces in Thailand (Eastern Thailand CCS Hub). Furthermore, PTTEP has engaged in fruitful partnerships with experienced collaborators to assess the feasibility of CCS implementation in various locations within Thailand and other regions of the world.

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Large-scale onshore LNG (Liquefied Natural Gas) project in Africa

PTTEP participates in the Mozambique Area 1 Project, the first onshore LNG facilities in Mozambique and a large-scale LNG project in Africa. The project’s first LNG cargo is expected to commence in 2028 from Golfinho-Atum field consisting of initial two onshore liquefaction trains with a combined annual capacity of 13.1 million tons.

Petroleum Proved Reserves

(MMBOE)

Petroleum Production and Sales Volume

(BOED)