PTTEP Reports Strong H1 2025 Performance, Expands International Presence and Declares THB 4.10 Interim Dividend
PTT Exploration and Production Public Company Limited (PTTEP) has announced its operational and financial results for the first half of 2025, reflecting robust performance, strategic global expansion, and sustained contributions to Thailand’s economy. The company reported significant milestones, particularly in the Middle East and North Africa, alongside a continued commitment to shareholder returns and national development.
At the heart of its achievements was PTTEP’s strategic move to broaden its investment footprint across key international locations including the United Arab Emirates (UAE), Oman, and Algeria. This expansion aims to strengthen the company’s upstream portfolio, build long-term value, and reinforce Thailand’s energy security. In line with its successful performance, the Board of Directors has approved an interim dividend of THB 4.10 per share for the first half of the year.
Strategic Growth through International Expansion
Mr. Montri Rawanchaikul, Chief Executive Officer of PTTEP, emphasized the company’s steady progress in securing high-potential petroleum assets across multiple regions. In North Africa, PTTEP, in partnership with Eni Algeria Exploration B.V.—the operator of the consortium—has been awarded the Reggane II Block in Algeria. The two companies have signed a Production Sharing Contract (PSC), which will become effective upon formal government approval. PTTEP holds a 34% interest in the Reggane II project.
The Reggane II Block is located near the Touat Project, where PTTEP recently acquired a stake. This proximity presents a strategic opportunity for integrated development and resource management, leveraging existing infrastructure and operational experience. The block holds discovered gas reserves along with further exploration potential, aligning with PTTEP’s long-term strategy to diversify gas sources and build synergy across assets.
Meanwhile, in the Middle East, PTTEP has reaffirmed its presence in Oman by extending the Exploration and Production Sharing Agreement for Block 53 through the year 2050. The extension provides long-term continuity for production and development in a region of strategic importance.
In the UAE, the company reached a new milestone by being awarded a production concession agreement for the Abu Dhabi Offshore 2 Project. This followed a successful gas discovery, positioning the company for potential development and eventual production. The concession, granted by a key state agency of the Emirate of Abu Dhabi, brings PTTEP closer to a Final Investment Decision (FID), marking a critical step in its Middle East growth plan.
Financial Performance: Strong Revenue Despite Market Volatility
PTTEP generated total revenue of THB 148,531 million (approximately USD 4.43 billion) during the first six months of 2025. This was driven by an average sales volume of 494,552 barrels of oil equivalent per day (BOED), which represents a modest increase compared to the same period in 2024.
The company’s production growth was mainly supported by the ramp-up of the G1/61 Project starting in March 2024, as well as increased crude oil sales from the Sabah Block K Project in Malaysia. Additional revenue gains came from an increased participation interest in the Sinphuhorm Project, a key onshore gas field in Thailand.
However, the average selling price declined to USD 44.85 per barrel of oil equivalent, primarily due to downward trends in global crude oil prices. Despite the price pressures, PTTEP maintained a unit cost of USD 30.9 per barrel of oil equivalent—underscoring operational discipline and efficiency.
The net profit for the first half of 2025 stood at THB 30,067 million (approximately USD 895 million), reflecting the company’s resilience in navigating market dynamics and sustaining value creation.
Interim Dividend: Rewarding Shareholders
Recognizing its solid financial performance and strong fundamentals, PTTEP’s Board of Directors approved an interim dividend payment of THB 4.10 per share for the first six months of 2025. The dividend underscores the company’s ongoing commitment to delivering shareholder returns while continuing to invest in long-term growth.
The record date for shareholders eligible to receive the interim dividend is August 13, 2025, and the payment is scheduled for August 22, 2025.
National Contributions: Over THB 30 Billion in Taxes and Royalties
PTTEP continues to be a key contributor to Thailand’s economic development. In the first half of 2025, the company paid more than THB 30,200 million in income taxes, royalties, and other government payments. These contributions support national priorities such as infrastructure development, education, healthcare, and research and development (R&D).
Additionally, under the Production Sharing Contracts (PSC) for G1/61 and G2/61 Projects, profit-sharing from petroleum production is directly channeled into national revenue. This model ensures that the economic benefits of natural resource development are returned to the country and its citizens.
Celebrating 40 Years: “The Power of Power”
In June 2025, PTTEP proudly marked its 40th anniversary—a significant milestone in Thailand’s energy history. Established in 1985 with a national mandate to develop domestic energy resources, PTTEP has since transformed into a globally recognized exploration and production company.
Today, PTTEP operates more than 50 projects across 13 countries, spanning Southeast Asia, the Middle East, and North Africa. The company remains focused on sustainable growth through exploration, production, and strategic partnerships that meet the evolving energy needs of Thailand and the global market.
The company’s 40th anniversary theme, “The Power of Power,” reflects not only its core role in powering the nation but also its broader mission of empowering people, communities, and industries. It symbolizes PTTEP’s enduring purpose—to provide secure, reliable, and affordable energy that supports economic progress and societal well-being.
