Thailand’s state-owned PTT Exploration and Manufacturing Public Firm Ltd (PTTEP) on Thursday introduced a spending finances of round $7.73 billion for 2026, concentrating on an eight % gross sales quantity enhance to 556,000 barrels of oil equal a day (boed).
“This progress displays robust momentum from our operational enlargement in Thailand and abroad this 12 months, which has already translated into increased gross sales quantity and income, and can proceed to help our efficiency into 2026 and past”, PTTEP chief government Montri Rawanchaikul mentioned in an internet assertion.
Of the 2026 finances, $5.16 billion is for capital expenditure and $2.56 billion is for working expenditure.
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PTTEP mentioned it goals to maximise volumes from present producing property to strengthen the Southeast Asian nation’s power safety.
“Major producing tasks embrace G1/61 (Erawan, Platong, Satun and Funan fields), G2/61 (Bongkot subject), Arthit, S1, Contract 4 tasks and tasks within the Malaysia-Thailand Joint Improvement Space”, PTTEP mentioned. “This plan additionally consists of different abroad tasks in Malaysia, Oman and Algeria. The capex finances of USD 3,605 million (equal to THB 118,064 million) is allotted to help these actions”.
It mentioned it has allotted $118 million for emission discount actions together with a carbon seize and storage (CCS) undertaking within the Arthit subject within the Gulf of Thailand. It introduced a optimistic remaining funding resolution on the CCS undertaking on September 8, earmarking a five-year funding of $320 million. Anticipated to start out operations 2028, the undertaking is designed to seize and retailer as much as a million metric tons of carbon dioxide a 12 months.
The 2026 plan additionally entails “accelerating the actions of key tasks beneath the event part, together with Ghasha Concession, Abu Dhabi Offshore 2, Mozambique Space 1, Malaysia greenfields reminiscent of Malaysia SK405B, Malaysia SK417 and Malaysia SK438 Tasks, to attain manufacturing start-up timelines as deliberate, with the allotted capex finances of USD 1,423 million (equal to THB 46,603 million)”.
PTTEP allotted $101 million in capex for drilling exploration and appraisal wells in Thailand, Malaysia, Myanmar and the United Arab Emirates.
For 2026-30, PTTEP earmarked $33.28 billion in capital and working expenditure. It targets to boost its manufacturing to 609,000 boed by the top of the last decade.
“Over the following 5 years, the corporate expects to start petroleum manufacturing from a number of worldwide tasks in Malaysia, Algeria and the Center East, additional strengthening petroleum gross sales quantity and supporting progress according to the corporate’s strategic plan”, Montri mentioned.
Within the first 9 months of 2025, PTTEP bought 499,925 boed, up three % from the identical interval final 12 months.
“This progress was primarily pushed by home tasks such because the G1/61 Venture, which achieved manufacturing ramp-up to 800 MMscfd [million standard cubic feet per day] since March 2024 and the MTJDA A18 Venture, whose acquisition was accomplished in July 2025”, PTTEP reported October 30.
Income and internet revenue for January-September 2025 totaled $6.66 billion and $1.29 billion respectively.
To contact the writer, e-mail jov.onsat@rigzone.com
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