PTTEP announced its operating performance for the first nine months of 2026 with total revenue of 268 billion baht.
Ms. Kanita Sartwattayu, Chief Executive Officer of PTT Exploration and Production Public Company Limited (PTTEP), said that in the third quarter of 2026, PTTEP continued to execute its strategic plan to provide Thailand’s energy security while pursuing international growth.
For the first nine months of 2026, PTTEP recorded total revenue of 268 billion baht. The average sales volume reached 549,020 barrels of oil equivalent per day, 10 percent higher than in the same period last year.
This growth was primarily driven by higher natural gas sales from projects in the Gulf of Thailand and projects in which PTTEP acquired participating interests in 2025, including the Malaysia–Thailand Joint Development Area (MTJDA) A-18-01, Algeria Touat, and Malaysia SK408 Projects.
Meanwhile, the average selling price was USD 50.17 per barrel of oil equivalent, representing a 13 percent increase compared with the same period last year, in line with higher global crude oil prices. As a result, the company recorded a net profit of THB 53,742 million (equivalent to USD 1,653 million) for the nine-month period of 2026.
- Contributing over THB 70,100 million in taxes and revenue to Thailand
During the first nine months of 2026, PTTEP’s operations generated over THB 70,100 million in revenues for the government in the form of income taxes, royalties and other remunerations, as well as the government’s entitlement to profit sharing. These contributions support various areas of national development, including community development, education, and research and development (R&D).
PTTEP and PC JDA, a subsidiary of PETRONAS Carigali Sdn Bhd., were granted a Production Sharing Contract (PSC) for the Malaysia–Thailand Joint Development Area (MTJDA) A-18-01 by the Malaysia-Thailand Joint Authority (MTJA), allowing the companies to continue petroleum exploration, development and production activities for another 35 years.
The project currently produces approximately 300–400 million standard cubic feet per day (MMSCFD) of natural gas, which is supplied equally to Thailand and Malaysia, helping to ensure a reliable long-term supply of natural gas to both countries. The natural gas supplied to Thailand is primarily used for power generation in southern Thailand.
As part of its domestic natural gas development, PTTEP made a Final Investment Decision (FID) to develop the Bussabong gas field in the G3/65 Project in the Gulf of Thailand. The development is expected to take approximately two years, with first gas production targeted for 2028 at approximately 30 MMSCFD, increasing to 40 MMSCFD by 2030, to help meet the country’s growing energy demand.
On the exploration front, PTTEP was awarded onshore Blocks L1/66 and L3/66 under Thailand’s 25th petroleum bidding round. Located near the Sinphuhorm field in northeastern Thailand, the two blocks cover a combined area of more than 7,000 square kilometers.
The award provides opportunities to explore and develop new domestic petroleum resources to support the country’s growing energy demand and further strengthen energy security in the northeastern region.
Regarding the progress of its international operations, PTTEP MENA Limited (PTTEP MENA), a subsidiary of PTTEP, and Eni Abu Dhabi B.V. (Eni) have jointly established Seela Energies B.V., with each company holding a 50% share. Through Seela Energies B.V., PTTEP and Eni each indirectly hold a 10% participating interest in the Ghasha Concession in the United Arab Emirates.
The establishment of the joint venture company will strengthen collaboration in project development, enhance access to financing, support capabilities development and the exchange knowledge and expertise, as well as create opportunities for future joint investments.
