PTTEP Signs Production Sharing Contract for Blocks G1/65, G3/65 in Gulf of Thailand

PTT Exploration and Production Public Company Limited (SET: PTTEP) announced on Tuesday that its subsidiary PTTEP Energy Development Company Limited (PTTEP ED has signed the Production Sharing Contract (PSC) for G1/65 and G3/65 in the Gulf of Thailand and PTTEP ED is the operator of both blocks. The PSC will be effective starting from 1 June 2023 onwards.

PTTEP was granted exploration rights for Blocks G1/65 and G3/65 in the Gulf of Thailand on 8 March 2023.

This achievement aligns with PTTEP’s investment strategy, which aims to promote growth in strategic focus areas. The proximity of these blocks to the company’s current operations will enhance the potential for swift commercial development and cost optimization. Moreover, the production contribution from these two blocks would help alleviating the concern over Thailand’s energy security.