Our Journey
PTTEP embarked on our journey with the mission to strengthen energy security. We have grown from a joint venture partner into the operator of prominent projects and expanded investment from Thailand to overseas. Today, we diversify our business into clean energy and future source of energy, pursuing our quest for a low-carbon and sustainable future for all.
From Joint Venture Partner to Operator
PTTEP was established on June 20, 1985, as the petroleum exploration and production (E&P) company of Thailand with the primary mission to explore, develop, and produce petroleum to serve the country’s demand for energy and strengthen national energy security.
We began our E&P journey as a joint venture partner in S1 Block in Lan Krabue District, Kamphaeng Phet Province, where Thailand’s largest onshore oil field, the “Sirikit field”, is located. Our commitment towards Thailand’s energy security drove us to continually build up expertise, leading us to subsequent partnerships with international oil companies in other petroleum exploration blocks in Thailand.
In 1991, we embarked on our first E&P project overseas – a joint venture in Myanmar. PTTEP continues to garner international recognition ever since.
Accumulating experience as a project partner of foreign operator in less than a decade, 1993 came a time when PTTEP successfully earned the “Operator” title through the PTTEP1 Project which is an onshore oil field in Thailand.
Going from strength to strength, we continued expanding our E&P business. On June 10, 1993, PTTEP became a listed company on the Stock Exchange of Thailand.
July 1, 1998, marked an important milestone in Thailand’s petroleum exploration and production history as PTTEP was transferred the operatorship of Bongkot Project* in the Gulf of Thailand from the former operator TOTAL, making it the first large-sized gas project to ever be operated by a Thai company.
*At present, the concession of Bongkot Project has expired, and the project has changed to G2/61 Project under the Production Sharing Contract (PSC).
Venturing Overseas
During the decade that followed, PTTEP became the operator of many E&P projects and made our first presence in the Middle East through a project in Oman. We also expanded our business worldwide covering Southeast Asia, Australasia, the Americas, and Africa, with projects in several countries including Malaysia, Vietnam, Myanmar, Australia, Algeria, and Mozambique.
Diversifying into Clean Energy and Technology
Oil price volatility directly affected the energy sector and the global economy. Amid this uncertainty, PTTEP adapted to become resilient and prepared for future challenges.
As the global energy crisis subsided, PTTEP moved forward our E&P expansion strategy to support energy security with an emphasis on strategic and petroleum-prolific locations in Southeast Asia and the Middle East including Malaysia, the United Arab Emirates, and Oman.
Amid digital transformation, we diversify into technology and AI & robotics business building upon E&P expertise to enhance operation efficiency.
PTTEP also expands our business into clean energy and new form of energy for the future through purposefully established subsidiaries to embrace energy transition, such as green hydrogen plant in Oman and offshore wind power plant in Scotland, pursuing the low-carbon organization goal and sustainable growth.
