Mr. Montri Rawanchaikul, Chief Executive Officer of PTT Exploration and Production Public Company Limited (SET: PTTEP), stated that the company maintains the 2026 operational plan with a target for average petroleum sales volume at 556,000 barrels of oil equivalent per day (BOEPD), an increase from 505,000 BOEPD in 2025, and aims to raise the production volume in 2026 to 785,000 BOEPD, driven by expanding operations both in Thailand and abroad.
For 2026, PTTEP plans to ramp up production at projects in both Thailand and international locations. In the Gulf of Thailand, the company aims to sustain production rates at the G1/61 project, the G2/61 project, the Arthit project, and the S1 project.
The production increases will come from the Yadana field in Myanmar, the Malaysia-Thailand Joint Development Area (JDA), and the major Ghasha Concession gas project located offshore Abu Dhabi, United Arab Emirates (UAE).
In Malaysia, the Lang Lebah field, currently under the development phase, is expected to provide clarity within 2026 regarding its progression, along with the SK408 block, a natural gas and condensate production field situated offshore in Malaysia’s shallow waters, for which plans are in place to boost production capacity.
In 2026, PTTEP remains focused on ensuring energy security for Thailand, while strengthening and expanding investments in petroleum exploration and production overseas to ensure long-term sustainable growth.
Regarding the five-year investment plan (2026–2030), PTTEP has allocated a total budget of USD 33.27 billion, divided into USD 7.72 billion for 2026, USD 7.67 billion for 2027, USD 6.59 billion for 2028, USD 5.74 billion for 2029, and USD 5.53 billion for 2030. PTTEP also sets its target for average petroleum sales volume to rise to 609,000 BOEPD by 2030.
Additionally, PTTEP foresees continued growth in gas demand, while new forms of energy are not yet advancing rapidly. Thus, gas supply shortages could arise by 2030. The solution for Thailand is to open up new exploration and production blocks in surrounding areas, as well as renew expiring concessions, to ensure continuous production.
The company disclosed that the recurrence of an incident in the Erawan field, where production did not proceed as planned due to the lack of investment by the previous concessionaire, resulting in more reliance on costly LNG imports, should not be repeated.
Nonetheless, PTTEP urges the government to establish guidelines that ensure operational continuity for petroleum fields. At least five years prior to concession expiry, a clear resolution should be in place, since losing domestic production would lead to high energy import costs in the future.
Mr. Montri further stated that PTTEP also plans activities to reduce greenhouse gas emissions, aiming for net-zero greenhouse gas emissions by 2050. This includes Scope 1 (direct greenhouse gas emissions) and Scope 2 (indirect greenhouse gas emissions from energy consumption in PTTEP-operated exploration and production businesses).
The company has set a target to reduce the intensity of greenhouse gas emissions from the 2020 baseline by no less than 30% by 2030 and 50% by 2040.
PTTEP has allocated a total investment budget of USD 118 million for activities aimed at reducing greenhouse gas emissions, including Carbon Capture and Storage (CCS) projects at the Arthit field in the Gulf of Thailand. The goal is to capture up to 1 million tons of carbon dioxide (CO₂) per year.
