PTT Exploration & Production Company Plc (PTTEP) Company News

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Petrofac Wins Australia Decom Contract
Thursday, February 11, 2021Plug and abandonment operations will take place in the offshore Vulcan Basin.

Borr Drilling Ups Backlog by $21MM
Tuesday, August 04, 2020Borr Drilling has entered into a new contract and letters of intent for three of its currently warm-stacked rigs.

$16B LNG Funding Deal Bucks Slowdown
Thursday, July 16, 2020Total SA's Mozambique LNG project has completed as much as $16 billion in funding.

PTTEP, Partners Hit Oil Pay Offshore Mexico
Tuesday, May 05, 2020Commercial potential of the new discovery will be assessed in the next phase.

Murphy Oil Exits Malaysia
Wednesday, July 10, 2019Murphy first announced its Malaysia exit plan in March.

Thailand's PTTEP 1Q Profits Rise, Prepares For Gas Auctions
Thursday, April 26, 2018PTTEP says 1Q net profit rose 21% as revenue increased on higher energy prices and that it was seeking growth through the acquisition of new assets.

Thailand's PTTEP Seeks To Boost Reserves, Output In SE Asia
Wednesday, March 21, 2018PTTEP is looking closer to home for upstream oil and gas assets in a drive to boost its reserves and production as oil prices have recovered.

Thailand's PTTEP Delays Canadian Oil Sands Project At Cost Of $550MM
Thursday, October 19, 2017PTTEP says it was delaying plans investment for the Mariana Oil Sands in Canada.

Thai PTTEP to Invest At Least $1.7B in 2017 to Maintain Output
Monday, October 03, 2016Thailand's PTT Exploration and Production plans to invest at least $1.7 billion in 2017 to maintain its production at the same level as last year, according to the firm's CEO.

PTTEPI, PC JDA Sign Add-on Deal to PSC for Block 17-01 in Gulf of Thailand
Thursday, September 01, 2016PTTEP International (PTTEPI) and PETRONAS Carigali JDA (PC JDA) sign a supplementary contract to the production sharing contract for Block 17-01 in the Malaysia-Thailand Joint Development Area (MTJDA) in the southern Gulf of Thailand.

Indonesia Encourages More Exploration, Development Activities in its Waters
Wednesday, August 31, 2016Indonesia plans to boost oil and gas activities in its waters, inviting Malaysia to join Pertamina in exploration work, while seeking to speed up development of the East Natuna block.

Thailand Embarking On LNG Shopping Spree As Glut Depresses Price
Thursday, August 25, 2016Bangkok is about to become a very important destination for sellers of liquefied natural gas.

Thailand's PTTEP Cuts 2016 Investment Budget 15% To $1.7B
Tuesday, August 23, 2016Thailand's largest oil and gas explorer, PTT Exploration and Production has cut its 2016 investment budget to $1.7 billion from $2 billion due to a cost reduction measure, an executive says.

Thailand's PTTEP To Sell Oman 44 Project To ARA Petroleum
Monday, August 22, 2016Thailand's largest oil and gas explorer, PTT Exploration and Production says it will sell its Oman 44 natural gas project to ARA Petroleum in a shift in investments in the Middle Eastern country.

Algeria's Hassi Bir Rekaiz Project JV to Submit Development Plan in 2017
Wednesday, August 17, 2016Thailand's PTTEP and joint venture partners intend to submit development plan for the onshore Hassi Bir Rekaiz Project in eastern Algeria to the authorities in early 2017.

PTT Exploration Faces Class Action Lawsuit Over Oil Spill
Wednesday, August 03, 2016Thailand's oil and natural gas explorer PTTEP is facing a more than $152 million class action lawsuit from 13,000 Indonesian seaweed farmers who claim a 2009 oil spill devastated their livelihoods. The company labeled the claim misguided.

Neptune Marine Services Wins Contract from PTTEP Australasia
Thursday, July 28, 2016Australia's Neptune Marine Services wins inspection services contract from PTTEP Australasia.

Thailand's PTTEP Q2 Profit More Than Doubles, Beats Forecast
Thursday, July 28, 2016PTT Exploration and Production, Thailand's largest oil and gas explorer, says its quarterly net profit more than doubled, helped by lower expenses.

PETRONAS Awards SK410B PSC Offshore Malaysia to PTTEP-led JV
Friday, July 22, 2016PETRONAS awards the SK410B Production Sharing Contract offshore Malaysia to a joint venture comprising Thailand's PTTEP, KUFPEC and PETRONAS Cargali.

Pertamina Plans an Evaluation of Indonesia's East Natuna Block Soon
Wednesday, July 13, 2016Pertamina plans to conduct an evaluation of the East Natuna Block in the Riau Province offshore Indonesia soon.

Thailand's PTTEP, Oman's OOCEP Sign MOU to Cooperate in Upstream Sector
Tuesday, July 12, 2016Thailand's PTTEP and Oman Oil Co. Exploration and Production sign a memorandum of understanding to cooperate in the upstream sector.

Thailand's EPPO Says Country May Face Gas Shortage in 2020-2021
Thursday, June 23, 2016Thailand's Energy Policy and Planning Office (EPPO) says the kingdom may face gas shortages in 2020-2021 amid uncertainty over the upcoming petroleum auctions.

Thailand To Auction Petroleum Concessions Held By Chevron, PTTEP
Monday, May 30, 2016Thailand's military government plans to put petroleum concessions held by Chevron and PTT Exploration and Production up for auction, energy minister Anantaporn Kanjanarat says.

Thai PTTEP Says Keen To Buy Stake In Myanmar Gas Field From Chevron
Tuesday, May 24, 2016PTT Exploration and Production Pcl (PTTEP), Thailand's largest oil and gas explorer, says it was keen to buy a stake in Yadana gas field in Myanmar from Chevron Corp.

PTTEP Tackles Industry Challenges, Prepares for Future with 3Rs
Wednesday, April 20, 2016PTTEP employs a new approach to deal with challenges arising from the current industry downturn.

Thai PTTEP May Cut 2016 Budget, Keen for Stake in BG's Bongkot Gas Field
Tuesday, January 12, 2016Thailand's PTTEP is considering cutting its $3.4 billion investment budget for this year due to declining oil prices, its chief executive says.

Coastal Contracts' Unit TML Seeks $5.65M in Damages from 2 Rig Builders
Monday, October 12, 2015Coastal Contracts' subsidiary Thaumas Marine commences arbitration proceedings in Singapore to seek $5.65 million in claims relating to a jackup built by CIMC Raffles and Dynamic Driller.

PTTEP Sells 20% Stakes in 2 Blocks in Myanmar to MOECO, Palang Sophon
Monday, August 31, 2015Thailand's PTTEP sells 20 percent interest in two onshore blocks in Myanmar to Japan's MOECO and Thai-based Palang Sophon Offshore.

Scomi Bags $27.66M Deal from PTTEPI for Myanmar's Zawtika Gas Project
Tuesday, August 18, 2015Malaysia's Scomi Energy bags a three-year contract from PTTEPI for the Zawtika gas project offshore Myanmar.

Thai PTTEP 2Q Profit Plunges on Forex, Oil Hedging Losses
Thursday, July 23, 2015PTT Exploration and Production PCL (PTTEP), Thailand's largest oil and gas explorer, says its second quarter net profit slumped 94 percent, dragged by a fall in revenue, and foreign exchange and oil hedging losses.

Thai Star Petroleum to Raise Up To $735M from IPO in 4Q
Tuesday, July 14, 2015Star Petroleum could raises up to $735 million in an initial public offering that will mark the exit from the business of Thailand's PTT.

Thailand's PTT Names Subsidiary Head Tevin as New CEO
Friday, June 26, 2015PTT has appointed Tevin Vongvanich, head of subsidiary PTTEP, to become the chief executive officer of Thailand's biggest energy firm, PTT's chairman says.

Thai PTTEP Cuts 2015 Sales Target, Investment Due to Weak Demand
Thursday, May 21, 2015PTTEP cuts its 2015 petroleum sales growth target to 3 percent from 6 percent, mainly due to weak demand and slower-than-expected economic growth.

Working for Asian National Oil Companies - An Attractive Choice?
Wednesday, May 06, 2015With job security a major preoccupation for most Asian employees in the current downturn, NOCs appear to be an attractive employment option.

Thailand's PTTEP 1Q Net Profit Falls 31% on Weak Oil Prices
Thursday, April 30, 2015PTTEP, Thailand's largest oil and gas explorer, says its first quarter net profit dropped 31 percent as the drop in global oil prices cut prices of its products.

Three Offshore Gas Fields in Myanmar to Shut Down for Maintenance in April
Tuesday, March 10, 2015Myanmar will shut down three offshore gas fields for scheduled maintenance in late April, according to a senior official at the Myanma Oil and Gas Enterprise.

Thailand's PTTEP Slips to 4Q Net Loss as Weak Oil Prices Weigh
Thursday, January 29, 2015PTTEP, Thailand's largest oil and gas explorer, reports its first quarterly net loss in more than a decade, mainly due to higher impairment loss on assets after declines in global oil prices.

Thailand to Proceed with Exploration Block Bidding Round Despite Opposition
Friday, January 16, 2015Thailand will proceed with its latest petroleum exploration and production bidding round despite domestic opposition to the plan.

Petrobras Ends Drilling at Pudim Well in Espirito Santo Basin Off Brazil
Tuesday, January 06, 2015Petrobras completes drilling at Pudim extension well in Espirito Santo Basin offshore Brazil.

Thai PTTEP May Review Investment Plans if Oil Prices Fall Further
Tuesday, January 06, 2015Thailand's PTTEP may hold off on investing in five projects including those in Myanmar, Australia and Mozambique if crude oil prices fall further.

Thai PTTEP Eyes Acquisitions in 2015, Mainly in Thailand, Asia
Friday, December 26, 2014Thailand's PTT Exploration and Production Pcl says it will be looking for acquisitions in 2015, mainly in Thailand and Asia.

Thailand's PTTEP Plans Total Expenditure of $24.3B in 2015-2019
Tuesday, December 23, 2014Thailand's PTTEP plans to spend $24.3 billion between 2015 and 2019.

Thai PTTEP Aims to Boost Cash Flow to $4B at End 2014
Wednesday, November 12, 2014PTTEP aims to boost cash flow to $4 billion at the end of 2014 from $3.68 billion in 2013.

Thailand's PTTEP 3Q Net Profit Down 16% On Year
Thursday, October 30, 2014Thailand's PTTEP says its third quarter net profit fell 16 percent, hit chiefly by rising expenses and lower prices of crude oil that dragged down its selling prices.

PTTEP to Acquire 20% Interest in Concession BM-ES-23 Offshore Brazil
Monday, September 22, 2014PTTEP to acquire a 20 percent interest in Concession BM-ES-23 in the Espirito Santo Basin offshore Brazil from Shell.

PTTEP Plans $3.3B CAPEX for Myanmar Projects for 2014-2018
Tuesday, September 16, 2014PTTEP plans a $3.3 billion capital expenditure to develop its oil and gas projects in Myanmar from 2014 to 2018, or 20% of the $16 billion earmarked worldwide.

Thai PTTEP To Spend $1B for Mozambique Project In Next 5-6 Years
Monday, September 15, 2014Thailand's PTTEP plans to spend up to $1 billion for a Mozambique project over the next five to six years starting from 2015.

PTTEP Commences Gas Exports from Myanmar's Zawtika Project to Thailand
Wednesday, August 06, 2014PTTEP commences gas exports from the Zawtika project in Myanmar's Gulf of Martaban to Thailand.

Thai PTTEP 2Q Net Profit Up 55%, Beats Forecast
Friday, July 25, 2014PTTEP reports a 55 percent rise in second quarter net profit due to higher petroleum sales and firmer global oil prices.

UMW Naga 5 to Drill in Myanmar's Offshore Block M3 for PTTEPI
Thursday, July 10, 2014UMW Oil & Gas' jackup UMW Naga 5 has secured a $51.3 million contract from PTTEP International for drilling services at Block M3 offshore Myanmar.