PTT Exploration and Production Public Company Limited (SET: PTTEP) has announced its 2Q25 consolidated financial statement through the Stock Exchange of Thailand as follows:
Quarter | 2Q25 | 2Q24 |
Net Profit (Loss) Million Dollar |
408.00 | 653.00 |
Earning Per Share (Dollar) |
0.11 | 0.17 |
% Change | -37.52 | |
6 Months | 6M25 | 6M24 |
Net Profit (Loss) Million Dollar |
895.00 | 1,177.00 |
Earning Per Share (Dollar) | 0.23 | 0.30 |
% Change | -23.96 |
PTTEP reported a net profit of $408 million in the second quarter of 2025, a 37.52% decline from the same period of last year. The decrease was primarily from lower average selling prices, together with higher operating expenses, primarily due to increased maintenance cost from G1/61 Project, G2/61 Project and Malaysia Block K Project, as well as an increase in depreciation, depletion, and amortization primarily from G2/61 Project that had additional completed assets.
Meanwhile, net profit margin dropped from 23.65% in 2Q24 to 21.39% in 2Q25.
In 2Q25, the average sales volume of PTTEP was at 504,772 barrels of equivalent per day (BOED), a similar level compared to the same period of last year. However, the average selling price decreased by 6%, primarily due to a decrease in global crude oil prices.
3Q25 Outlook
The average sales volume for Q3/2025 is projected to be approximately 505,000 barrels of oil equivalent per day (BOED), similar to the second quarter of 2025 by the increase in sales volume from domestic projects offsetting lower crude load from projects in the Middle East and Africa. The average sales volume for the full year 2025 is expected to be in the range of 505,000 to 510,000 BOED, reflecting an increase compared to the previous year. This growth is primarily driven by higher sales volume from Thailand, attributed to the full-year production of the G1/61 (Erawan) Project at approximately 800 MMSCFD. Additionally, PTTEP acquired an additional stake in Sinphuhorm Project, increasing its participating interest from 80.487% to 90% effective from 16 April 2025. The Company also signed an amended Gas Sales Agreement (GSA) for Arthit Project to increase the Daily Contract Quantity (DCQ) from 280 MMSCFD to 330 MMSCFD, effective from June 2025 onwards.
For Q3/2025 and the full year 2025, PTTEP expects the average unit cost to be approximately 30 USD/BOE, with no significant change compared to the previous year.
Additionally, the Board of Directors have approved a dividend payment of THB 4.10 per share to be paid on 22 August 2025 with an ex-dividend date on 8 August 2025.