Bangkok: PTT Exploration and Production Public Company Limited (PTTEP) has unveiled its ambitious five-year operational plan, allocating over US$33.279 billion to secure national energy supply and bolster investment.
According to Thai News Agency, PTTEP’s 2026 investment plan alone is set at US$7.726 billion, targeting an 8% increase in petroleum sales.
Mr. Montri Rawanchaikul, Chief Executive Officer of PTTEP, emphasized the company’s commitment to national energy security and outlined its strategic focus on three main areas: enhancing the value of petroleum exploration and production (Drive Value), reducing greenhouse gas emissions (Decarbonize), and diversifying investments into new energy transition businesses (Diversify). For 2026, PTTEP has earmarked an annual budget of US$7.726 billion, which includes capital expenditures (CAPEX) of US$5.164 billion and operating expenditures (OPEX) of US$2.562 billion.
The company plans to boost petroleum production from existing projects to ensure energy security in Thailand. This includes the G1/61 project (Erawan, Platong, Satun, and Funan fields), the G2/61 project (Bongkot field), the Arthit project, the S1 project, and the Thai-Malaysia joint development area. Additionally, PTTEP is investing US$3.605 billion to enhance production from key overseas projects in Malaysia, Oman, and Algeria.
PTTEP is also committed to reducing greenhouse gas emissions with a target of achieving net-zero emissions by 2050. The plan covers Scope 1 and Scope 2 emissions, with a goal to reduce emission intensity by at least 30% by 2030 and 50% by 2040. The company has allocated US$118 million for reducing greenhouse gas emissions, including investments in carbon capture and storage projects.
To accelerate the progress of key projects under development, PTTEP has set aside US$1.423 billion. Projects include the Gacha Concession Project, Abu Dhabi Offshore 2 Project, Mozambique Area 1 Project, and several development projects in Malaysia. Furthermore, PTTEP will invest US$101 million in exploration activities across Thailand, Malaysia, Myanmar, and the United Arab Emirates to support long-term growth.
The company’s five-year plan (2026-2030) aims to expand investments in new businesses supporting the energy transition, while also fostering sustainable value for society and communities. PTTEP projects an average petroleum sales volume of 556,000 barrels of oil equivalent per day in 2026, an 8% increase driven by expanded operations in Thailand and abroad.
Mr. Montri stated that PTTEP’s growth strategy includes ramping up production from projects such as the Malaysia-Thailand Joint Development Area A18, the Sinphuhorm project, the Algeria Tuat project, and increased natural gas production in the Arthit project. The company plans to initiate petroleum production from several international projects, further boosting sales volume and aligning with PTTEP’s strategic growth plan.