PTTEP wins two honors at Money & Banking Awards 2025
Organized by Money & Banking Magazine, the Best Public Company of the Year 2025 awards were determined through a fundamental analysis of business information from companies listed on the SET. The evaluation was based on four key factors: size of the firm, profitability, return on investment, and investment liquidity.
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Bangkok Post
4 days ago
- Bangkok Post
PTTEP Acquires Block A-18 Stake to Bolster Energy Security
Bangkok, July 25, 2025 – PTTEP has acquired a 50% participating interest in Block A-18 of the Malaysia–Thailand Joint Development Area (MTJDA) which is strategically important to Thailand's energy security, and supporting company's growth. Mr. Montri Rawanchaikul, Chief Executive Officer of PTT Exploration and Production Public Company Limited (PTTEP), stated that PTTEP Joint Development SG PTE. LTD., the company's subsidiary, has signed a Sale and Purchase Agreement (SPA) to buy 100% of the outstanding shares of Hess International Oil Corporation, which, through its subsidiaries, holds a 50% participating interest in Block A-18 of the Malaysia–Thailand Joint Development Area (MTJDA) — a natural gas resource fundamental to electricity generation for Thailand's southern region. The base consideration was USD 450 million, subject to normal purchase price adjustments. Both sellers, Hess (Bahamas) Limited and Hess Asia Holdings Inc., are wholly owned, subsidiaries of Chevron following the Chevron and Hess merger. This transaction is now completed and immediately enhances PTTEP's gas production volume and petroleum reserves, and increases the company's investment in the MTJDA from the existing 50% participating interest in Block B-17-01. Block A-18 currently produces 600 million standard cubic feet of natural gas per day (MMSCFD) which is equally distributed to Thailand and Malaysia. The 300 MMSCFD supplied to Thailand accounts for 6% of the country's domestic gas demand. 'PTTEP is pleased to further expand our operations in the MTJDA, which is recognised for its petroleum potential and strategic significance to Thailand's energy security. The acquisition also contributes to the company's growth. Apart from the existing producing fields, Block A-18 includes several discovered gas fields awaiting development to unlock their full potential. Participation in Block A-18 also fosters operational synergy with Block B-17-01, enhancing efficiency to ensure continuous and accelerated energy supply for both countries,' said Mr. Montri. Upon completion of the acquisition, the development of additional production wells and wellhead platforms, along with gas construction of gas pipelines, will be carried out to support a consistent and reliable gas supply. MTJDA is located in the southern part of the Gulf of Thailand. Covering an area of approximately 7,250 square kilometres, it is a key source of natural gas and condensate for Thailand and Malaysia. Block A-18 which includes Cakerawala, Bumi, Suriya, Bulan, and Bulan South fields, started production in 2005. Block B-17-01 began production in 2010. The block includes Muda, Tapi, Tanjung, Amarit, Jengka, Melati, and Andalas fields, and currently produces approximately 300 MMSCFD of natural gas for Thailand and Malaysia.
Bangkok Post
5 days ago
- Bangkok Post
Analysts wary of border standoff
Analysts recommend avoiding Thai stocks that have significant exposure to Cambodia and suggest investors monitor the border situation as it could escalate and subsequently affect the economy. If the conflict can be contained quickly, the investment impact is likely to be limited, with technical support for the Stock Exchange of Thailand (SET) index expected at 1,190 points, they said. "So far, the effect on Thai listed companies' earnings is considered modest," Bualuang Securities (BLS) said in a research note. Companies with more than 5% of their revenue from Cambodia were mainly energy drink producers, while those with 1-5% exposure include hospitals, energy firms and construction materials companies. Retailers and banks have an exposure of less than 1%, according to the brokerage. Carabao Group (CBG) has more than 10% of revenue or profit derived from Cambodia, while Osotspa (OSP) and Siam City Cement (SCCC) have 5-10% exposure. Stocks with 1-5% exposure include hospital groups, namely Bumrungrad Hospital (BH), Bangkok Dusit Medical Services (BDMS) and Bangkok Chain Hospital (BCH). Other companies with this level of exposure are cinema operator Major Cineplex Group (MAJOR), food producer Betagro (BTG) and those in the petrochemical and energy sectors, comprising Bangchak Corporation (BCP), IRPC, Star Petroleum Refining (SPRC), Thai Oil (TOP), PTT Global Chemical (PTTGC), Siam Cement (SCC) and oil retailers such as PTT Oil and Retail Business (OR). Other firms with Cambodian operations that face a limited impact based on revenue of less than 1% are CP All, CP Axtra (CPAXT) and Berli Jucker (BJC). Major banks with branches in Cambodia, including Bangkok Bank (BBL), Kasikornbank (KBANK), Siam Commercial Bank (SCB) and Krungthai Bank (KTB) are also considered to have a minimal level of exposure. Utility firm Power (BGRIM) was mentioned by BLS for its investment-type business model. Piriyapon Kongvanich, a strategist at BLS, said the impact from the Thai-Cambodian border conflict remains limited, citing the 2011 armed conflict near the Preah Vihear temple area that was confined to a specific zone and did not escalate. "The current episode is unlikely to expand beyond the border area due to Thailand's stronger military capacity," he said. "Cambodia may be escalating the issue to bring it before the International Court of Justice, suggesting political rather than military motives." From a macroeconomic perspective, Cambodia accounts for roughly 3% of Thailand's total exports. The top five export categories include gems and jewellery, refined oil, sugar, beverages and chemicals. Oil and natural gas exports to Cambodia made up only 0.4% of total exports last year. Maybank Securities (Thailand) expects the ongoing border tensions to have a limited effect on the Thai economy, despite straining diplomatic ties, partial border closures and potential trade disruptions. The situation could affect international relations and cross-border commerce if prolonged, Maybank noted. In the tourism sector, Cambodian tourists comprise 1.6% of total arrivals, a figure that has been declining since 2023. Cambodia contributes a relatively small share of labour in Thailand's construction sector, suggesting minimal immediate impact, noted the brokerage. "The conflict is expected to have a limited effect on listed companies' earnings, though some stocks with direct exposure to Cambodia may experience negative sentiment pressure," noted Maybank.
Bangkok Post
26-07-2025
- Bangkok Post
Thailand's PTTEP buys full control of offshore gas block
SINGAPORE - PTT Exploration and Production (PTTEP) of Thailand has acquired full ownership of an offshore oil block in the Gulf of Thailand in a $450-million transaction with units of US-based Chevron. The deal for Block A-18 in the Malaysia–Thailand Joint Development Area (MTJDA) was signed with Hess (Bahamas) and Hess Asia Holdings, both now owned by Chevron following a recent merger with Hess Corp, PTTEP said in a statement. The acquisition gives PTTEP 100% of the outstanding shares in Hess International Oil Corp, which holds a 50% participating interest in Block A-18, the exploration arm of PTT Plc said. The deal comes as Chevron restructures globally to streamline operations and reduce costs, a process that could involve laying off 20% of its workforce by the end of next year. Chevron is also seeking buyers for its 50% stake in its Singapore refinery, Reuters reported in June. PTTEP said natural gas from Block A-18 is fundamental to power generation for southern Thailand. The block produces about 600 million standard cubic feet of gas per day, which is equally distributed to Thailand and Malaysia. 'PTTEP is pleased to further expand our operations in the MTJDA, which is recognised for its petroleum potential and strategic significance to Thailand's energy security,' chief executive officer Montri Rawanchaikul said in the statement. The MTJDA covers 7,250 square kilometres in the southern part of the Gulf of Thailand and is a key source of natural gas and condensate for Thailand and Malaysia, according to the statement.
