PTTEP Company News

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Why Some Asian NOCs are Sticking to Spending Plans
Monday, May 18, 2020Some Asian national oil companies are sticking to their spending plans despite the falls in price and demand.

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.

$2.1B Deal Lets Murphy Focus on One Hemisphere
Thursday, March 21, 2019Murphy Oil will sell its main Malaysia subsidiaries to PTTEP.

Ecuador to Offer Oil Blocks Under New Bidding Terms in Jan
Friday, October 06, 2017The new terms will allow producers to be paid in oil and enable them to export or sell the barrels to local refineries, said Carlos Perez at a conference at Rice University in Houston on Friday.

ExxonMobil Says Will Drop Discussions Over Indonesia's East Natuna
Tuesday, July 18, 2017Difficulties with the field, first discovered in the 1970s, have included contract disputes and remoteness.

Hydrocarbons Encountered at Te Giac Trang Field Offshore Vietnam
Tuesday, December 20, 2016Soco International plc announced Tuesday that 2 infill development wells on the Te Giac Trang field, in Block 16-1 offshore southeast Vietnam, have encountered hydrocarbons.

National Iranian Oil Co, Thailand's PTTEP Agree To Oilfield Studies
Tuesday, December 06, 2016National Iranian Oil Company (NIOC) and PTT Exploration and Production Public Company Limited (PTTEP) sign a memorandum of understanding to carry out preliminary studies of 3 oil fields in Iran.

Thai PTTEP Cuts 2016 Capex To $1.4B, Looks For M&A
Friday, November 18, 2016PTT Exploration and Production cuts its 2016 capital expenditure budget to $1.4 billion from $1.7 billion, citing cost cuts and the postponement of high-risk projects.

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.

Thailand's Decom Sector Will Need Workers, Government Policy
Wednesday, September 21, 2016With decommissioning assuming greater significance in Thailand as offshore infrastructure ages, the services industry prepares to cope with issues that may arise in the market.

Thai Oil firm PTTEP Says May Cut $3.4B Investment Plan this Year
Tuesday, January 12, 2016Thai oil company PTT Exploration and Production may cut its $3.4-billion investment budget further due to declining oil prices.

Thai PTTEP Slips into the Red in 3Q on Asset Impairment Loss
Thursday, October 22, 2015PTT Exploration and Production posts a net loss of $1.28 billion due to impairment costs on assets after weaker oil prices.

Thai Energy Firm PTT Expands into Fast Food to Boost Non-Oil Revenue
Friday, July 10, 2015Thailand's PTT signs a franchise deal with US-based fast food chain Texas Chicken as it tries to boost revenue from non-oil businesses amid weak crude oil prices.

Thailand Aims to Liberalise Gas Pipeline Business by Mid-2015
Friday, August 15, 2014Thai government plans to liberalize the country's gas pipeline business by the middle of 2015.

Thai PTTEP Signs Deal for Myanmar Onshore Block Exploration Rights
Friday, August 08, 2014Thailand's PTTEP signs a production sharing contract for onshore exploration and production rights over the MOGE 3 Block, Myanmar.

Statoil Cut 1,000 Jobs during 2Q
Friday, July 25, 2014Statoil reduces its headcount by around 1,000 employees and may cut up to 400 more positions.

Thai PTTEP Says Could Dilute Stake in Montara Field
Friday, April 25, 2014Thailand's PTT Exploration and Production is considering plans to dilute its holding in the Montara oilfield, offshore Australia.

Aminex Appoints New Exploration Advisor
Monday, April 07, 2014Aminex appoints Bernard Andre - an expert on East African geophysics - as its new exploration advisor.

Thai PTTEP Signs Petroleum Exploration Deal with Brazil's BG
Friday, April 04, 2014PTTEP signs an agreement with BG E&P Brasil for a 25-percent stake in four deep-water blocks in Brasil.

Thailand's PTT Fourth Quarter Net Profit Down by a Third
Friday, February 21, 2014Thailand's PTT says its fourth quarter net earnings fell by a third due to lower contributions from its exploration, refining and petrochemical businesses.

Statoil Raises Exposure to Canadian Oil Sands
Thursday, January 30, 2014Norway's Statoil increases its exposure to Canadian oil sands with PTTEP deal.

Thai PTT Plans to Invest $10B 2014-2018
Friday, December 20, 2013Thai energy firm PTT plans to investment $10.1 billion between 2014 and 2018, it says.

Carlyle Group Backs Former Cove Energy Team
Monday, December 16, 2013Major private equity group Carlyle Group commits $200 million funding to Discover Exploration - set up by the team behind Mozambican explorer Cove Energy.

Wood Mackenzie: East African Upstream Investment to Hit $7B by 2018
Wednesday, October 09, 2013Upstream investment in East Africa will hit a record level of $7 billion per year by 2018, according to energy research firm Wood Mackenzie.

PTTEP Updates on Appraisal Drilling in Block M3 in Myanmar
Friday, August 16, 2013PTTEP provides an update on its subsidiary PTTEPI's drilling program at Block M3 in the Gulf of Martaban in Myanmar.

Thailand's PTTEP Cuts 2013 Petroleum Sales Target
Thursday, August 08, 2013PTTEP expects to produce 302,000 barrels of oil equivalent per day for 2013 (lower than targeted) due to a delay in the start-up of the Montara oilfield in Australia.

Ex-Cove Energy Team Launches Africa-focused Explorer
Monday, March 11, 2013Newly-launched Discover Exploration, which includes former Cove Energy directors among its management team, outlines its strategy after signing deal with the Comoros Islands.

Wood Mackenzie: SE Asia to Drive LNG Demand Moving Towards 2025
Wednesday, February 20, 2013Southeast Asia, notably Indonesia and Thailand, will take a central role in driving LNG demand moving towards 2020, a report by Wood Mackenzie said.

Marathon Enters Ethiopia with Acquisition
Wednesday, October 03, 2012Marathon Oil buys 20-percent interest in South Omo concession in Ethiopia.

PTTEP Finalizes $3.1B Fundraising Details
Thursday, September 27, 2012The $3.1 billion fundraising will provide money for acquisition of Cove Energy as well as funding for operational activities.

Cove Energy Takeover Finally Over
Friday, August 17, 2012PTTEP's $1.9 billion offer for Cove Energy is accepted by 94.3 percent of shareholders.

Thailand's PTTEP Extends $1.9B Offer for Cove Energy
Monday, July 09, 2012PTTEP extends its $1.9 billion offer for East Africa-focused gas explorer Cove Energy until July 13.

PTTEP Extends Acceptance Date for $1.9B Cove Bid
Monday, June 25, 2012PTTEP's move to extend its offer is made as Shell mulls whether to increase its own offer for Cove Energy, the East African natural gas explorer.

Thailand's PTTEP Wins Exploration Blocks in Myanmar
Wednesday, June 06, 2012Myanmar's award sees PTTEP take a 90-percent stake in the PSC-G and EP-2 blocks.

Cove Energy Confirms Takeover Battle is Still On
Thursday, May 24, 2012Results statement released by Cove Energy on Thursday confirms that the directors have withdrawn their recommendation of $1.8 billion offer from Shell.

Shell's Takeover Battle for Cove Energy Almost Over
Tuesday, April 24, 2012Shell and Cove release a joint statement declaring Cove's directors will recommend Shell's offer, which values the business at $1.8 billion, to its shareholders.

PTTEP Joins Petronas in Support of O&G Tech Development
Tuesday, March 06, 2012Oil & gas industry technology facilitator ITF forms a new membership agreement with Thailand's national oil company PTT Exploration & Production Public Company Limited (PTTEP).

PTTEP Dilutes Assets Offshore Indonesia
Friday, January 13, 2012PTTEP has agreed to dilute its share in three deep-offshore exploration blocks in the Makassar Strait in Indonesia to Total.

PTTEP Touts Successful Results from Cash-Maple Appraisal
Wednesday, September 21, 2011PTTEP reported successful drilling results of the appraisal well, Cash-2, located in the Cash-Maple field in the Timor Sea of Australia.

PTTEP Lines Up Seadrill Jackup Offshore Thailand
Tuesday, May 31, 2011Seadrill has been awarded a new contract by PTTEP in Thailand for the jackup rig West Leda.

AGR to Provide Services for Timor Sea Fields
Wednesday, March 09, 2011PTTEP Australasia has engaged AGR for expert engineering, project management and support services for the subsea well abandonment of the subsea facilities for Challis and Jabiru fields.

Report Concludes PTTEP, Regulator at Fault for Montara Spill
Wednesday, November 24, 2010According to the AU govt report, both PTTEP and the Northern Territory Designated Authority are at fault for the largest spill to occur offshore Australia.

PTTEP to Take $2.28B Stake in Statoil Canada Oil Sands Project
Tuesday, November 23, 2010PTTEP has signed a deal with Statoil to acquire a 40% interest in the Kai Kos Dehseh Oil Sands Project for a total consideration of $2.28B.

AGR Field Operations Inks Deal with PTTEP Australasia
Wednesday, June 23, 2010AGR Field Operations has signed a 2+1 year contract with PTTEP Australasia for the provision of Logistics and Supply Base operations.

PTTEP Withdraws Participation in Indonesian Block
Monday, March 22, 2010PTTEP has withdrawn the entire 40% participation interest from Block Bengara I, Indonesia.

PTTEP Finds Natural Gas at Oliver Field in Timor Sea
Tuesday, February 23, 2010PTTEP has found a commercially viable amount of natural gas at its exploration well Oliver-2 in the Timor Sea.

PTTEP-Petronas JV Fires Up Gas Production in Gulf of Thailand
Tuesday, February 23, 2010The PTTEP and Petronas joint-operated MTJDA-B17 Project has started producing natural gas, adding as much as 10% to the supplies of Thailand's petroleum demand.

Stuart Gets Go-Ahead to Sell Stake in Timor Sea Permit
Thursday, February 11, 2010The Foreign Investment Review Board has notified its approval of the sale of Stuart's interest in Timor Sea petroleum exploration permit AC/P33 to PTTEP Australasia (Ashmore Cartier) Pty Ltd.

OMV Consortium Buys More Time for NZ Drilling Permits
Thursday, January 14, 2010The OMV-led Joint Venture has been granted a one year extension to the drilling decision in its Great South Basin (GSB) permits.