PTT Exploration and Production Public Company (PTTEP) Opportunity Day Q1 2025 earnings summary

Strategic overview and business direction

• Market capitalization stands at $12 billion, with an 8% dividend yield last year.

• Focus remains on energy security, international expansion, and sustainable growth.

• Gas production in the Gulf of Thailand accounts for 82% of domestic output; international growth targets Malaysia, Myanmar, Middle East, and Africa.

• Over the past decade, sales volume increased by 52%, with gas making up 70% of the production portfolio.

• Strategic pillars: drive value (gas focus), decarbonize, and diversify.

Market and industry outlook

• Oil prices in Q1 averaged $76.9/bbl, expected to trend downward due to increased OPEC output and US trade measures.

• LNG prices in Q1 averaged $14.1/MMBTU, with strong demand in Europe and Asia; prices expected to remain high.

• Geopolitical tensions and trade barriers may impact global demand and supply for oil and gas.

• Clean energy technologies and energy transition remain key industry trends.

Project updates and operational highlights

• Increased stake in Sinphuhorm field to 90%, boosting sales by 5-6,000 BOE/day.

• Signed new gas sales contract for Arthit project, raising output to 330 million cubic feet/day from June.

• Progress on carbon capture pilot at Arthit, aiming for 700,000-1 million tons CO2 storage per year by 2028.

• Malaysia Green Field projects to begin production by 2028; Middle East and Africa projects advancing as planned.

• Mozambique LNG project expected to start production in late 2028 or early 2029.