Mitihoon – PTTEP revealed its operational performance and key progress for the first half of 2025, highlighted by strategic investment expansion in the United Arab of Emirates (UAE), Oman and Algeria to drive company’s growth. The Board of Directors approved an interim dividend payment at THB 4.10 per share for the period, while the company contributed over THB 30,200 million in terms of royalties and tax to support national development.
Mr. Montri Rawanchaikul, Chief Executive Officer of PTT Exploration and Production Public Company Limited (PTTEP), stated that in the first six months of 2025, PTTEP made significant strides in expanding its petroleum exploration and production business. The company, in partnership with Eni Algeria Exploration B.V. as the operator, has been awarded the Reggane II block in Algeria and has signed a Production Sharing Contract (PSC). The contract will be effective upon the official announcement by the Algerian government. PTTEP holds a 34% interest in the project. Reggane II, located near the Algeria Touat Project—where PTTEP has already announced a stake acquisition—presents a strategic opportunity to enhance development and resource management synergies, with discovered gas and exploration potential in the area.
Regarding its operations in the Middle East, PTTEP signed an agreement to extend the Exploration and Production Sharing Agreement for Block 53 through 2050. The company has also been awarded the production concession agreement for Abu Dhabi Offshore 2 Project by a state agency of the Emirate of Abu Dhabi, UAE, following a successful gas discovery. This marks a step toward the Final Investment Decision (FID).
For the first 6-month financial performance, PTTEP generated a total revenue of THB 148,531 million (equivalent to USD 4,431 million). The average sales volume was at 494,552 barrels of oil equivalent per day (BOED), a slight increase compared to the first half of 2024. The major growth was mainly from the increase of G1/61 production since March 2024, higher crude sales of Sabah Block K Project and the participation interest increase of Sinphuhorm Project. However, the average selling price decreased to USD 44.85 per barrel of oil equivalent, following a decline in global crude oil prices, while the unit cost was at USD 30.9 per barrel of oil equivalent. Therefore, the company recorded a net profit for the first half of the year at THB 30,067 million (equivalent to USD 895 million).
The approval of an interim dividend payment at THB 4.10 per share
Based on the company’s performance, on July 25, 2025, the Board of Directors approved the interim dividend payment for the first six-month operating results at THB 4.10 per share. The record date for shareholders eligible to receive the dividend is August 13, 2025 with the payment scheduled on August 22, 2025.
Contribution over THB 30,200 million for national development
During the first half of 2025, PTTEP paid over THB 30,200 million of income tax, royalties and other remunerations to the government. This strongly supports national development in various areas such as community, education, and research & development (R&D). While the profit sharing from petroleum production in G1/61 and G2/61 Projects, under the Production Sharing Contract (PSC), directly contributes to government revenue for national development.
40 years of PTTEP: “Power of the Power” empowering the nation forward
In June 2025, PTTEP marks its 40th anniversary of operations. Founded under the visionary leadership of the state to strengthen national energy security, Thailand set out on an ambitious path to develop its own capabilities in petroleum exploration, development, and production. Today, PTTEP has expanded its business to over 50 projects across 13 countries. The company will pursue further expansion of its operations both domestically and internationally to meet the energy needs of the Thai people and the country. This mission reflects “The Power of Power”— a driving force that propels the country forward and empowers individuals to fulfill their roles and achieve their aspirations.
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