PTTEP reports 54 billion baht profit and expands gas development

PTTEP reported a nine-month profit of 54 billion baht, driven by a 10 percent increase in sales volume. The company has contributed over 70,100 million baht in tax benefits and revenue to Thailand during this period.

In Malaysia, PTTEP has entered into Farm-Out Agreements with TotalEnergies, KUFPEC, and PETRONAS Carigali to co-invest in the Lang Lebah and B14 gas fields off the coast of Sarawak. The project aims to leverage shared infrastructure for these fields, which hold an estimated 6.5 trillion cubic feet of petroleum resources. TotalEnergies will serve as the operator with a 30 percent stake, while PTTEP holds 25 percent.

Regarding domestic operations in Thailand, PTTEP has reached a Final Investment Decision to develop the Busbong gas field in the Gulf of Thailand. Production is expected to begin in 2028, with an initial rate of 30 million cubic feet per day, rising to 40 million by 2030. Additionally, the company won a petroleum concession auction for exploration blocks in Northeast Thailand.