PTTEP’s appetite for growth undimmed
Even the turbulence of 2020 has failed to cool the enthusiasm of Thailand’s NOC for further expansion
State-controlled PTTEP is one of a number of NOCs which continues to explore, develop and acquire—to some extent stepping into the shoes of majors and IOCS seeking to divest or consolidate their hydrocarbon assets—as it pursues a programme to significantly ramp up production and sales, particularly of gas, over the coming years. PTTEP remains bullish about gas demand and prospects, seeing long-term growth for the fuel as a transitional energy source. As of the end of 2020, the Thai company’s proven and probable hydrocarbon reserves totalled 1.62bn bl oe, of which 69pc was gas. Of those reserves, 53pc were in domestic Thai resources. Sales volumes in 2020 reflected a similar split, comprising
Also in this section
10 June 2025
The bloc may find it very difficult to replicate Japan’s approach due to fundamental differences in policy and the markets
10 June 2025
Scapegoating foreign buyers will not solve country’s gas shortages
10 June 2025
US gasoline consumption is at its highest level since before COVID, but while stocks remain healthy, the hurricane season threatens
10 June 2025
There has been a flourishing of non-governmental initiatives aimed at incentivising voluntary action on emissions over the past five years, and momentum is not slowing down.
