PTTEP Approves Bussabong Gas Project
This article was first published on Rigzone here
PTT Exploration and Production Public Co Ltd (PTTEP) has made a final investment decision to develop the Bussabong gas field in the Gulf of Thailand.
"The development is expected to take approximately two years, with first gas production targeted for 2028 at a rate of around 30 million standard cubic feet per day (MMscfd), increasing to 40 MMscfd by 2030 to help meet the country's growing energy demand", state-owned PTTEP said in a press release.
Bussabong, part of the G3/65 Project, will be connected to the central processing platform and production facilities in the North Bongkot field in the G2/61 Project via a subsea pipeline. "Leveraging this existing infrastructure will enable the Bussabong gas field to be developed more efficiently and expeditiously", PTTEP said.
"In addition, the company plans to conduct further exploration activities in other areas of the G3/65 Project, including drilling an exploration well in the Nong Yao Northeast prospect to further assess the petroleum potential. A successful discovery could provide an opportunity to increase the G3/65 Project's production capacity in the future", it added.
PTTEP won exploration and production rights for the G3/65 Project, which spans over 11,600 square kilometers (about 4,500 square miles), in 2023. It holds operatorship with a 60 percent stake.
Valeura Energy Inc provisionally owns 40 percent, pending the completion of the Canadian company's farm-in. Valeura expects to complete the transaction, which also gives it a 40 percent ownership in Block G1/65, this month or October.
Earlier this month PTTEP said it had executed a production sharing contract for a new block in the Malaysia-Thailand Joint Development Area. Block A-18-01, which carries a 35-year term for exploration and development, replaces a previous agreement and combines Block A-18-01 with additional areas.
"The block [A-18-01] has the potential to produce approximately 300-400 million standard cubic feet per day of natural gas, with the production to be supplied equally to Thailand and Malaysia", PTTEP said September 14. "The gas supplied to Thailand is expected to account for approximately four percent of the country's natural gas demand and will be used as fuel for power generation to support energy demand in southern Thailand".
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PTTEP is an equal co-owner in Block A-18-01 with Malaysia's Petroliam Nasional Bhd (Petronas).
"In addition, the development of Block A-18-01 will enable further synergies with Block B-17-01, in which PTTEP and [Petronas subsidiary] PC JDA hold participating interests", said PTTEP chief executive Montri Rawanchaikul.
"Together, the two blocks currently produce approximately 700 million standard cubic feet of natural gas per day", Rawanchaikul said.
Blocks B-17-01 and A-18-01 form the Malaysia-Thailand Joint Development Area in the lower Gulf of Thailand. The two blocks cover a combined area of about 7,250 square kilometers.
PTTEP participates in 20 exploration and production (E&P) projects at home, located onshore and offshore the Gulf of Thailand. Globally it owns stakes in over 50 E&P projects, according to the company.
PTTEP had reported sales volumes of more than 560,000 barrels of oil equivalent a day (boed) for the first half of 2026, up 14 percent from the same six-month period last year.
It aims to raise its production to 609,000 boed by the end of the decade, according to the 2026-30 plan it announced December 4, 2025.
The 2026 plan involves "accelerating the activities of key projects under the development phase, including Ghasha Concession, Abu Dhabi Offshore 2, Mozambique Area 1, Malaysia greenfields such as Malaysia SK405B, Malaysia SK417 and Malaysia SK438 Projects, to achieve production start-up timelines as planned, with the allocated capex budget of $1,423 million (equivalent to THB 46,603 million)", PTTEP said then.
To contact the author, email jov.onsat@rigzone.com
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