BANGKOK, Thailand – PTT Exploration and Production Public Company Limited (PTTEP) reported a strong first-half performance in 2026, posting a net profit of 39.03 billion baht, up 29.77% year-on-year, supported by higher petroleum sales from projects in the Gulf of Thailand and overseas joint ventures. The company said it continued operating at full capacity to maintain domestic natural gas supplies amid ongoing instability in the Middle East, helping strengthen Thailand’s energy security and reduce potential impacts from global energy volatility. PTTEP Chief Executive Officer Montri Rawanchaikul said the company recorded total revenue of 176.76 billion baht during the first six months of 2026, with average petroleum sales reaching 563,179 barrels of oil equivalent per day, an increase of 14% compared with the same period last year.
The higher sales volume was mainly driven by projects in the Gulf of Thailand and additional investments in projects including the Thailand-Malaysia Joint Development Area A-18, Algeria’s Touat project and Malaysia’s SK408 project. The average selling price during the period stood at US$49.54 per barrel of oil equivalent, rising 10% year-on-year in line with global crude oil price movements. PTTEP said its board approved an interim dividend payment of 4.50 baht per share for the first six months of 2026. The company will mark the XD date on August 14, with dividend payments scheduled for August 28. During the first half of the year, PTTEP contributed more than 27.7 billion baht in government revenue through corporate income tax, royalties and other benefits, supporting national development.
The company also highlighted its efforts to increase domestic gas production as geopolitical tensions continue to affect global energy markets. PTTEP is producing natural gas from domestic sources at around 2.68 billion cubic feet per day, exceeding the contracted daily supply volume of approximately 2.5 billion cubic feet per day. The additional production aims to help reduce pressure on energy costs and provide greater stability for households and industries. On sustainability initiatives, PTTEP announced the successful reuse of a retired petroleum wellhead platform for the first time in Thailand under the Total Wellhead Platform Reuse project.
The company reused the entire structure, including the topside, jacket and parts of the piles, at the JKWK wellhead platform in the Funan field under the G1/61 project in the Gulf of Thailand. The project follows circular economy principles, reducing construction time, costs, resource consumption and greenhouse gas emissions. PTTEP also signed a cooperation agreement with the Department of Fisheries and the Department of Mineral Fuels to convert nine retired petroleum platform jackets into artificial reefs in the Gulf of Thailand. The initiative aims to restore marine ecosystems, create habitats for marine life and support sustainable fisheries, with implementation expected to begin in the fourth quarter of this year.
