PTT Exploration and Production

What PTT Exploration and Production does

PTT Exploration and Production Public Company Limited (PTTEP) is Thailand's national petroleum exploration and production company and a publicly listed subsidiary of state-owned PTT Public Company Limited, trading on the Stock Exchange of Thailand under ticker TPED. Founded in 1985 and now in its 40th year of operations, PTTEP conducts upstream oil and gas exploration, development, and production across Thailand, Malaysia, the UAE, Oman, and Australia, with average sales volume of 509,906 BOE/d as of end-2024.

The company's portfolio spans operated and non-operated upstream interests, including participating interests in Oman's Block 61 (20%), Block 6 (2%), and Block 53 (1%); a 10% stake in Abu Dhabi's Hail and Ghasha offshore gas megaproject alongside ADNOC and Eni; a 25% stake in Malaysia's SK405B Sarawak development alongside Petronas Carigali and Mitsui Energy Development; and stakes in Oman LNG and Qalhat LNG (combined 11.4 million tonnes/year capacity). Operational technology includes Autonomous Underwater Vehicles for subsea inspection, advanced remote-operated offshore systems, a Carbon Capture and Storage pilot near the Arthit gas block, and a Rig to Reef program repurposing decommissioned platforms.

PTTEP generates revenue through the production and sale of crude oil, natural gas, and LNG under production sharing agreements and joint-venture structures with national oil companies and host governments (Government of Oman, ADNOC, Petronas, Mitsui, Eni, Occidental). The company is pursuing energy transition optionality through $765 million of allocated capex, the EP Net Zero 2050 commitment, green hydrogen partnerships in Oman (POSCO Holdings, Samsung Engineering), and three wholly-owned technology subsidiaries — AI and Robotics Ventures, FutureTech Energy Ventures, and Xplor Ventures — operating alongside the PTTEP Technology and Innovation Center in Rayong Province. Channel and stakeholder engagement is conducted primarily through enterprise/field sales to government and NOC counterparties, supported by SET-mandated investor disclosures and sustainability reporting.

Name

PTT Exploration and Production

Legal name

PTT Exploration and Production Public Company Limited

Website

https://pttep.com

Company type

Public

Founded year

1985

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

PTT Exploration and Production (PTTEP) is Thailand's national upstream oil and gas company, exploring, developing, and producing petroleum across Southeast Asia, the Middle East, and Australia for state-owned parent PTT Group and international NOC partners under production sharing agreements.

Ownership category

akta.pro rank

Product category

Upstream Oil and Gas Exploration and Production

NAICS

Crude Petroleum Extraction (21112), Rubber Product Manufacturing (3262)

SIC

Crude Petroleum & Natural Gas (1311), Oil & Gas Field Exploration Services (1382)

akta.pro primary industry

Oil & Gas Facilities Asset Management (Refining/Terminals/LNG) (EUAEAMAG)

akta.pro secondary industries

Industrial & Commercial Waste Incineration (Non-hazardous) (EUAAAKAC), WtE Plant Development, EPC & O&M Services (Project delivery and operations) (EUAAAKAK)

Keywords

• Petroleum exploration production
• Upstream oil gas
• Natural gas development
• Offshore drilling services
• Carbon capture storage

Headquarters

HQ city

Chatuchak

HQ country

Thailand

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Infrastructure, Personnel, Technology or R&D

Revenue model

1. Oil and Gas Production and Sales: PTTEP generates revenue through petroleum exploration, development, and production operations, selling oil and gas output in domestic and international markets. Average sales volume of 509,906 barrels of oil equivalent per day as of end of 2024.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

PTTEP conducts petroleum exploration, development and production operations across domestic Thailand and international assets in Southeast Asia, the Middle East, Australia, America and Africa, selling crude oil and natural gas to government and enterprise customers under production sharing agreements and joint ventures. The company also holds stakes in Oman LNG and Qalhat LNG (combined 11.4 million tonnes per annum capacity) and is developing clean energy solutions including carbon capture and storage and green hydrogen under its EP Net Zero 2050 commitment.

Product overview

PTTEP (PTT Exploration and Production Public Company Limited) is Thailand's national oil and gas exploration and production company conducting petroleum exploration, development, and production operations. The company operates a diversified portfolio including the PTTEP Ocean Data Platform for marine data, Carbon Capture and Storage technology for emissions reduction, and several innovation subsidiaries (AI and Robotics Ventures, FutureTech Energy Ventures, Xplor Ventures) supporting its technology development. The company also maintains a Technology and Innovation Center (PTIC) in Rayong Province and has a sustainability-focused PTTEP Ocean Data Platform.

Differentiator

Problem solved

Functional benefit

Brands

• EP Net Zero 2050: PTTEP's pathway to achieve net zero greenhouse gas emissions by 2050, incorporating carbon capture and storage initiatives.
• Ocean for Life
• PTTEP Ocean Data Platform

Products and services

• Petroleum Exploration, Development and Production Core upstream service spanning exploration, development and production of crude oil and natural gas across domestic Thailand and international assets, with average sales volume of 509,906 barrels of oil equivalent per day as of end of 2024, sold to government and enterprise counterparties under production sharing agreements and joint ventures.
• LNG Production (Oman LNG and Qalhat LNG) Liquefied natural gas production through participating interests in Oman LNG and Qalhat LNG, with combined capacity of 11.4 million tonnes per annum, supplying international LNG markets.
• Carbon Capture and Storage (CCS) Carbon capture and storage service designed to reduce greenhouse gas emissions as a key technology pillar of PTTEP's EP Net Zero 2050 pathway to achieve net-zero emissions by 2050.
• PTTEP Ocean Data Platform Open-source platform providing Thailand's offshore ocean data derived from research and projects under the Ocean for Life strategy, encouraging a wide range of data applications to promote sustainable conservation and rehabilitation of marine resources.
• Green Hydrogen Production (Oman Block Z1-02) Green hydrogen production through a concession at Oman Block Z1-02, partnered with POSCO Holdings and Samsung Engineering to enter the clean energy sector as part of PTTEP's energy transition strategy.

Quantifiable outcome

• Average sales volume of 509,906 BOE/d as of end of 2024
• +2 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

13 partnerships are on record, tiered core, major and minor.

• SLB OneSubseacoreTechnology or Integration · 12 March 2026Awarded engineering, procurement and construction contract by PTTEP Sabah Oil for Kikeh 3B project Phase 2 development offshore Malaysia. Contract scope includes three subsea trees, manifold, subsea distribution unit, and integrated control systems for operations in 1,300-1,400m water depths, with execution planned through 2026-2027.
• Petronas CarigalicoreStrategic or Co-development Partner · 10 February 2026Joint venture partner in Malaysia SK405B project covering Sirung and Chenda fields in Sarawak Basin offshore Sarawak with 25% stake. Project includes central processing platform and wellhead platform targeting first oil production in 2028.
• Mitsui Energy DevelopmentcoreStrategic or Co-development Partner · 10 February 2026Joint venture partner in Malaysia SK405B project with 25.5% stake alongside PTTEP Sarawak Oil (49.5%) and Petronas Carigali (25%).
• SLB OneSubseacoreTechnology or Integration · 30 October 2025Awarded EPC contracts for two deepwater projects offshore Malaysia including Alum, Bemban, Permai, and Kikeh fields in 1,100-1,300 meters water depth. Third major contract from PTTEP within 12 months, building on 20-year collaboration on Malaysia deepwater oil and gas developments.
• Offshore Oil EngineeringmajorImplementation/ SI/ Consulting Partner · 27 October 2025Chinese engineering company awarded $800 million contract for Thai offshore oil project development including wellhead platforms and subsea pipelines as part of long-term agreement with PTTEP.
• ADNOC (Abu Dhabi National Oil Company)coreStrategic or Co-development PartnerPTTEP holds 10% stake in the Hail and Ghasha offshore gas development project with ADNOC and Eni. This is positioned as the world's first offshore gas project targeting net zero emissions, capturing 1.5 million tonnes of CO2 annually and producing 1.8 billion scf/day of gas.
• EnicoreStrategic or Co-development PartnerJoint partners with PTTEP (10%) and ADNOC (60%) in the Hail and Ghasha offshore gas project. Eni holds 25% stake in the project co-owned 60% by ADNOC and 40% by Occidental Petroleum.
• POSCO HoldingscoreStrategic or Co-development PartnerPartnership for green hydrogen production concession awarded for Block Z1-02 in Oman, alongside Samsung Engineering and other Korean firms to enter clean energy sector.
• Samsung EngineeringcoreStrategic or Co-development PartnerPartnership for green hydrogen production concession in Oman Block Z1-02 alongside POSCO Holdings and other Korean firms.
• Department of Marine and Coastal ResourcescoreStrategic or Co-development PartnerGovernment partner in Ocean for Life strategy for marine conservation, working across 17 provinces surrounding Gulf of Thailand.
• Department of Fisheries (Thailand)coreStrategic or Co-development PartnerGovernment partner in marine resource conservation and sustainable ocean initiatives under Ocean for Life strategy.
• Oman LNGminorStrategic or Co-development PartnerPTTEP holds stakes in Oman LNG as part of expansion in Oman's energy sector.
• Qalhat LNGminorStrategic or Co-development PartnerPTTEP holds stakes in Qalhat LNG combined with Oman LNG totaling 11.4 million tonnes per annum capacity.

Scale indicators15 records

Recent moves6 records

Expansion highlights6 records

Market position

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PTT Exploration and Production