Thai Oil Public Company Limited (SET: TOP) has appointed Wood PLC, a UK-based global leader in consulting and engineering services for the energy and materials markets, as the new Procurement & Construction Management (EPCM) firm for its landmark Clean Fuel Project (CFP), sources from the energy consulting industry told Kaohoon.
The CFP is a large-scale investment, estimated at approximately $5 billion (about THB 170 billion), excluding an additional THB 62 billion budget amendment. Wood PLC will be responsible for overseeing and managing the entire project, including the recruitment of a new main contractor to replace the UJV group—previously composed of Samsung, Petrofac, and Saipem—which recently had its contract terminated by Thai Oil.
Wood PLC, with a strong track record of serving PTT Group as a consultant, was selected for its expertise and global standing. The UK-based multinational is renowned for its consulting and engineering solutions in the energy and materials sectors worldwide, offering digital solutions, asset optimization, and decarbonization services. According to ENR 2022, Wood PLC ranks among the top three engineering companies in the oil and gas, refining, petrochemical, specialty chemicals, and mining sectors.
It should be noted that the EPCM (Engineering, Procurement, Construction Management) model differs from the EPC (Engineering, Procurement, Construction) model. Whereas EPC is a turnkey approach where the contractor is responsible for full project delivery, EPCM involves hiring an expert to oversee and manage the project on behalf of the owner. Under this structure, the owner retains budget control and is responsible for hiring subcontractors.
The sources added that there are currently two candidates in the running for the new EPC contractor role. The final shortlisting and appointment are expected within the third quarter of 2025. The contenders are:
- Bechtel International (USA): With substantial experience as a PTT group consultant, Bechtel is renowned for its world-class technical, project management, procurement, and construction services. The company’s operations in Thailand are handled by Bechtel International, leveraging local technical and managerial resources alongside global support from Bechtel Corporation for projects across Southeast Asia. Bechtel maintains a permanent office in Bangkok and serves industries ranging from oil pipelines and offshore facilities to energy infrastructure, mining, and petrochemicals. Bechtel International operates as part of Bechtel Oil, Gas and Chemicals, Inc. in the United States.
- JGC (Thailand) Ltd. (Japan): Having previously participated in the CFP bidding and successfully meeting the qualifications, JGC Group is active globally and focuses on Total Engineering across diverse business fields, leveraging proprietary technology for the production of functional materials.
A decision on the new EPC contractor is expected by June following multi-party discussions. This time, the selection criteria will prioritize experience and financial stability over price alone, to avoid a repeat of the UJV case and to ensure robust project performance. The goal is for the CFP to be completed as scheduled in 2028 (B.E. 2571), with COD (commercial operations date) for all project units. System tests will be conducted in phases prior to the COD. Thai Oil had earlier announced that the CFP would be operational by Q3 2028.
A subcontractor source involved in the CFP told Kaohoon Business that UJV has issued notice to all subcontractors—including SRICHA, STECON, CAZ, and TRC—ordering them to withdraw from the project, following Thai Oil’s termination of UJV’s contract. Outstanding payments owed by UJV will likely be settled through litigation, with STECON already filing arbitration overseas. The new main contractor is not expected to assume responsibility for these pending matters, but approximately 70-80% of previous subcontractors could be re-engaged for the project.
On April 24, Thai Oil officially exercised its right to terminate the EPC contract with immediate effect, citing the contractor’s failure to fulfill its EPC obligations. The company has affirmed that this termination will not impact the completion of the CFP, for which a comprehensive project plan is in place to ensure completion by Q3 2028. Thai Oil has engaged specialized and experienced advisors to reinforce project management in engineering, procurement, and construction for efficient delivery and systematic management at every phase.
The CFP construction will now proceed with contractors who possess the required expertise and experience in executing large-scale projects, ensuring the project is successfully completed according to Thai Oil’s plans.
