PTT Exploration and Production Public Company Limited (SET: PTTEP) has disclosed its 2025 investment plan for PTTEP and its subsidiaries (collectively referred to as PTTEP), which has been developed based on three main strategies: Drive, Decarbonize, and Diversify. These strategies aim to drive and enhance the value of core E&P business, while working toward the goal of achieving net zero greenhouse gas emissions by 2050.
The plan also includes expanding investments into new businesses for energy transition. The total estimated expenditure for 2025 is USD 7,819 million, consisting of USD 5,299 million for Capital Expenditures (CAPEX) and USD 2,520 million for Operating Expenditures (OPEX).
PTTEP’s 2025 investment plan remains focused on ensuring energy security for Thailand, while also strengthening and expanding investments in E&P business abroad to foster long-term sustainable growth. The main work plans are as follows:
1) Maximizing production from current producing assets that are vital to supporting Thailand’s energy security, including G1/61 (Erawan), G2/61 (Bongkot), Arthit, S1, Contract 4, as well as the Malaysia–Thailand Joint Development Area (MTJDA) Projects, while Zawtika and Yadana Projects in Myanmar also contribute by supplying natural gas to Thailand. Additionally, key overseas producing projects in Malaysia and Oman also play an important role. A total CAPEX budget of USD 3,676 million has been allocated to support these activities.
In addition, a comprehensive roadmap for greenhouse gas emissions reduction is in place, with the goal of achieving net zero greenhouse gas emissions by 2050. This target includes both direct (Scope 1) and indirect (Scope 2) emissions from PTTEP’s exploration and production business under operational control. Interim targets have been set to reduce greenhouse gas emissions intensity by at least 30% by 2030 and 50% by 2040, relative to 2020 baseline. A total budget of USD 77 million has been allocated for emission reduction activities in 2025.
2) Accelerating the activities of key projects currently under the development phase, including the Ghasha Concession, Abu Dhabi Offshore 2, Mozambique Area 1 Projects, and Malaysia Greenfields, such as Malaysia SK405B, Malaysia SK417 and Malaysia SK438 Projects, to meet planned production start-up timelines. A CAPEX budget of USD 1,464 million has been allocated for these projects.
3) Supporting long-term growth by accelerating exploration activities for existing projects in the exploration, development and production phases. A CAPEX budget of USD 127 million has been allocated for drilling exploration and appraisal wells in Thailand, Malaysia, and Myanmar.
Under the aforementioned plan, the 5-year investment budget (2025 – 2029) has been allotted as follows:
Based on the allocated budget and planned activities, the expected average petroleum sales volume from existing projects for the period 2025 – 2029 is as follows:
PTTEP is prioritizing the sustainable growth of its business during the global energy transition. As part of this effort, the company has started expanding into the new businesses, allocating a provisional budget of USD 1,747 million for 5-year period (2025-2029), on top of the previously announced budget. This is to support investment opportunities in offshore wind, Carbon Capture and Storage as a Service (CCS as a Service: CCSaaS), hydrogen, and corporate venture capital (CVC), while ensuring the company’s readiness to thrive during the energy transition and its goal of becoming a low-carbon organization in the future. PTTEP also remains committed to support local communities surrounding its operational sites and create sustainable value for all stakeholders.
