PTT Exploration and Production Public Company Limited (SET: PTTEP) has reached a final investment decision to develop the Bussabong gas field in the Gulf of Thailand, targeting first production in 2028 to support the country’s future energy demand.
Chief Executive Officer Montri Rawanchaikul said subsidiary PTTEP Energy Development Company Limited (PTTEP ED) made the investment decision for the field under the G3/65 project, advancing it from exploration success into development.
Development is expected to take approximately two years. Initial gas production is targeted at around 30 million cubic feet per day in 2028, rising to 40 million cubic feet per day by 2030.
PTTEP plans to connect Bussabong through a subsea pipeline to the central processing platform and production facilities at the nearby North Bongkot field under the G2/61 project. As PTTEP already operates those facilities, the connection is expected to enable faster and more efficient development.
However, implementation of the plan remains subject to approval from the relevant government agencies.
The company also plans further exploration within G3/65, including drilling an exploration well in the Nong Yao Northeast area to assess additional petroleum potential. A discovery could support a further increase in the project’s future production.
PTTEP has held exploration and production rights for G3/65 under a production sharing contract since 2023. The project covers approximately 11,647 square kilometres. Following completion of the conditions required for the interest transfer under a farm-out agreement, PTTEP will hold a 60% interest and remain the operator of the field, while Valeura Energy (Chaiyaphruek) Limited will hold the remaining 40%.
PTTEP currently has more than 50 petroleum exploration and production projects across more than 10 countries. Its Thai portfolio comprises 20 onshore and offshore projects covering natural gas, condensate and crude oil production, alongside exploration and development activities.
Major domestic projects include G1/61, covering the Erawan, Platong, Satun and Funan fields, and G2/61, covering the Bongkot South and North Bongkot fields. Both produce natural gas and condensate.
The company also operates the Arthit gas project in the Gulf of Thailand, where it is advancing a carbon capture and storage pilot project.
Its onshore portfolio includes the S1 crude oil project across Kamphaeng Phet, Phitsanulok and Sukhothai provinces, with Sirikit as a key producing field. PTTEP also holds a 20% interest in the Sinphuhorm onshore gas project and participates in the Thailand-Malaysia Joint Development Area project, JDA-A18, with a 50% ownership.
