Thailand to explore deposits of natural gas, crude oil and petroleum
The Department of Mineral Fuels is preparing to open bidding for petroleum exploration projects in nine terrestrial fields across Thailand before the end of this year in the hope of finding petroleum, natural gas and crude oil.
Seven of these fields are in the Northeast while two are in the central region, covering a total area of 33,944 square kilometres, the department’s director-general Warakorn Brahmopala said on Thursday.
The finding of new petroleum sources in Thailand would help meet increasing domestic demand and reduce the reliance on natural gas imports, he said.
He added that the department has also urged PTT Exploration and Production, operator of the G1/61 project (Erawan, Platong, Satun and Funan fields) to increase the production capacity of natural gas to 800 million cubic feet per day within April to cope with increasing usage.
Thailand currently has 34 active petroleum exploration projects in 47 fields. 14 projects in 16 fields are terrestrial while 20 projects in 31 fields are in the Gulf of Thailand.
Thailand’s daily petroleum production capacity is around 558,000 barrels of oil equivalent (BOE). This breaks down into natural gas at 2.4 billion cubic foot per day (420,000 BOE), condensate at 75,000 barrels per day (68,000 BOE), and crude oil at 70,000 barrels per day.
Warakorn said domestic production only meets 28% of the country’s usage, with Thailand needing to import the remaining 72%, mostly from neighboring Malaysia and Myanmar.
Besides finding new petroleum sources, the Department of Mineral Fuels is also responsible for setting the standards and regulations for CCUS (Carbon Capture, Utilisation and Storage) in the petroleum exploration industry, in line with the government’s goal of achieving carbon neutrality.
