Thailand’s upstream revival picks up speed
The Southeast Asian producer has reversed declining output and is pushing on with a deepwater-focused new bidding round
Thailand’s upstream sector is gathering momentum after the country reversed an almost decade-long decline in oil and gas production in 2024. Policymakers are moving quickly to consolidate those gains, announcing plans for a deepwater-focused 26th oil and gas bid round just weeks after bids closed for the country’s onshore 25th licensing round. At the heart of this resurgence is a state-driven strategy to rebuild capacity in a sector once seen as in structural retreat. Since 2017, Thailand has shifted from a concession-based model to a more flexible licensing regime and placed state-owned PTTEP at the centre of its upstream ambitions. What once seemed like resource nationalism is now translat
Also in this section
2 April 2026
Alongside a rapid continued build-out of renewables, China’s latest five-year plan stresses the value of domestic hydrocarbon production for energy security and calls for increased Russian gas imports
2 April 2026
The government is taking important steps to revive domestic production, lift investment and benefit from the geopolitical crisis even if more needs to be done in the longer term
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
