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PTTEP in brief

A leading Asian exploration and production company

Home based in Bangkok, Thailand, PTT Exploration and Production Public Company Limited (PTTEP) was established in 1985 to provide Thailand with sustainable oil and gas supply in competitive conditions.

PTTEP is a national petroleum exploration and production company owned by the state-owned company PTT, but since 1993, PTTEP is listed in Thailand Stock Exchange with a public floating stake.

Today, PTTEP is part of the top-ten publicly-listed company in the Stock Exchange of Thailand.

With 4,000 employees, PTTEP operates more than 40 plants around the world with exploration and production activities in Thailand, Myanmar, Vietnam, Cambodia, Oman, Indonesia, Algeria, New Zealand, Australia, Canada, Mozambique and Kenya.

PTTEP envisions to become a leading Asian exploration and production company in generating value and sustainable growth through strategic investments in Thailand and overseas.

PPTEP is exclusively acting upstream as to supply crude oil, natural gas and condensate to cover Thailand needs.

But in parallel Thailand is implementing an ambitious program downstream to develop its petrochemical industry to reduce its reliance on expensive imports.

This downstream strategy to support the economical and social development of the country is leading PTTEP to increase significantly its volume of exploration and production.

On the last 12 months PTTEP benefited from large projects turning into production:

 – Greater Bongkot South, offshore Thailand is adding revenues from natural gas and condensate

 – 16-1 offshore Vietnam, provides additional volume of crude oil

As part of PTTEP’s growth strategy, PTTEP did not hesitate to challenge Shell in Cove energy’s take over last summer.

With this acquisition,PTTEP had two targets:

 – Get access to very promising resources on the East coast of Africa

 – Learn from Anadarko the operator in the Mozambique Area 1 how to develop deep offshore field and onshore large LNG project. 

PTTEP Key Figures

 – 2011 Revenues: $5,56 billion

 – 2010 Revenues: $4,4 billion

 – 2009 Revenues: $3,7 billion

 – 2011 Earnings: $1,4 billion

 – 2010 Earnings: $1,3 billion

 – 2009 Earnings: $0,7 billion

 – 2011 Capital Expenditure: $1 billion (estimation)

PTTEP Projects and Business Highlights

PTTEP is targeting to triple its production by 2020 to reach 900,000 barrels of oil equivalent (boe) per day at that time.

To meet its growing needs, PTTEP is scaling up the size of targeted projects or acquisition such as in Mozambique with the Rovuma Basin Area 1 with Anadarko or in Indonesia with East Natuna with ExxonMobil, Pertamina and Total.

This ambition will require $12 billion capital expenditure on the next five years.

To finance its development, PTTEP needs fresh cash and is planning to organize the sales of 650 million of new shares worth of $3.2 billion.

In parallel of these giant projects, PTTEP will continue the development of small or medium size projects such as:

 – Blocks M3 and M11 in Myanmar

 – Cambodia B

 – Malunda in Indonesia

 – Oman 44

 – Hassi Bir Rekaiz in Algeria

 – Australasia in Australia

As more and more national oil companies, PTTEP is the front runner of the whole oil and gas value chain for the development of Thailand economy upstream and downstream.

Therefore, PTTEP will appear in larger projects and will take a bigger role is these projects with majors, such as ExxonMobil and Total, or will compete with them such as with Shell.

For more information and data about oil and gas and petrochemical projects go to Project Smart Explorer

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