PTT Exploration and Production (PTTEP) announces 1.09 trillion baht investment over five years
PTTEP unveils a 1.09 trillion baht five-year investment plan, targeting 8% petroleum sales growth in 2026 and advancing CCS projects toward its Net Zero 2050 goal
- PTTEP has announced its five-year investment plan (2026–2030) with a total budget of approximately 1.09 trillion baht to strengthen energy security and support long-term growth.
- The company targets an average petroleum sales volume increase of around 8% in 2026, reaching 556,000 barrels of oil equivalent per day (BOED).
- Most of the budget will be allocated to boosting production from existing domestic and international projects, accelerating new developments, and conducting exploration to support future growth.
- A portion of the investment will be dedicated to greenhouse gas reduction initiatives, including carbon capture and storage (CCS) projects, as PTTEP moves towards its Net Zero 2050 goal.
Montri Rawanchaikul, Chief Executive Officer of PTT Exploration and Production Plc. (PTTEP), stated that the company has set its 2026 budget at US$7,726 million (approximately 253,027 million baht), divided into Capital Expenditure (CAPEX): US$5,164 million (about 169,121 million baht) and Operating Expenditure (OPEX): US$2,562 million (about 83,906 million baht).
These budgets will support key plans, including increasing petroleum production from current projects to strengthen Thailand’s energy security, such as:
- G1/61 (Erawan, Platong, Satun, and Funan),
- G2/61 (Bongkot),
- Arthit, S1, Contract 4, and the Thailand–Malaysia Joint Development Area (JDA).
PTTEP also plans to increase production at major international projects including Malaysia, Oman, and Algeria, allocating US$3,605 million (about 118,064 million baht) in CAPEX for these activities.
PTTEP further plans to implement greenhouse gas reduction initiatives to achieve its Net Zero 2050 target, covering:
- Scope 1: Direct emissions
- Scope 2: Indirect emissions from energy use
The company aims to reduce GHG intensity from its 2020 baseline by no less than 30% by 2030 and 50% by 2040. A total of US$118 million (about 3,865 million baht) will be invested in emission-reduction activities, including the CCS project at the Arthit field in the Gulf of Thailand.
PTTEP is also pushing forward key development projects, including:
- Ghasha concession
- Abu Dhabi Offshore 2
- Mozambique Area 1
- Malaysia SK405B, SK417 and SK438
A budget of US$1,423 million (about 46,603 million baht) has been allocated to advance these projects towards production as planned.
Additionally, PTTEP will accelerate exploration activities to support future growth, allocating US$101 million (about 3,308 million baht) for exploration and appraisal drilling in Thailand, Malaysia, Myanmar, and the UAE.
For the five-year investment plan (2026–2030), PTTEP has allocated a total budget of US$33,279 million (about 1,089,887 million baht). Beyond this investment, PTTEP emphasises expanding into new businesses to support the energy transition, while also investing in social and community initiatives to create sustainable value for all stakeholders.
From this plan, PTTEP forecasts average daily petroleum sales in 2026 at 556,000 BOED, representing an 8% growth, driven by expanded operations domestically and internationally in 2025, which immediately increased sales volumes and revenues with continued momentum into 2026 and beyond. Key contributors include increased investment in the Thailand–Malaysia JDA A-18 Project, higher stakes in the Sinthuphohom Project, investment in Algeria Touat, and increased natural gas production at Arthit.
For long-term growth, PTTEP plans to commence production from multiple overseas projects over the next five years, including in Malaysia, Algeria, and the Middle East, supporting sustained petroleum sales growth in line with the company’s strategic roadmap.
