PTTEP expands footprint in Oman’s energy sector

MUSCAT, APRIL 1
PTT Exploration and Production Public Company Limited (PTTEP), Thailand’s national oil and gas exploration and production company, says it is continuing to consolidate its presence across key segments of Oman’s hydrocarbon value chain as part of a longer-term strategy to grow its international business.
In the Sultanate of Oman, the integrated energy group has interests in key upstream assets, LNG capacity and even a gigawatt-scale green hydrogen project in partnership with a number of international players.
“PTTEP continued expanding its footprint in the Middle East and Africa through additional investment and development opportunities in the United Arab Emirates, alongside ongoing production in Oman. These efforts will enhance the company’s production capacity and strengthen business operations over the long term”, Chatchai Phromlert, Chairman and Montri Rawanchaikul, Chief Executive Officer, stated in a joint message prefacing the company’s newly published 2025 Annual Report.
PTTEP’s flagship investment is a 20 per cent participating interest in Block 61, a major gas licence in central Oman currently accounting for around a third of the country’s aggregate gas output. The operator is BP Exploration (Epsilon) Limited, a subsidiary of BP. Natural gas production averaged 1,476 million standard cubic feet per day (MMSCFD), while condensate output averaged 54,886 barrels per day from the block in 2025.
Also notable is PTTEP’s 2 per cent participating interest in Block 6 — the largest producing onshore oil asset in Oman. Petroleum Development Oman (PDO) serves as the operating consortium. Crude oil output averaged 710,351 bpd in 2025.
Elsewhere in southern Oman is Block 53 with its heavy oil-bearing Mukhaizna field. PTTEP Group holds a 1 per cent participating interest in the project, with Occidental Petroleum serving as operator. Crude oil output averaged 74,177 bpd last year. The project stakeholders also signed an Exploration and Production Sharing Agreement (EPSA) to extend the contract period by 15 years, through 2050.
Crude oil from these three blocks is sold under medium-term contracts, while natural gas produced from Block 61 is sold under a long-term contract to the Omani government.
However, the company exited Block 12 — an onshore natural gas exploration block in central Oman — in which it held a 20 per cent participating interest, with TotalEnergies serving as operator. PTTEP explained: “A petroleum potential evaluation was conducted, with no prospects identified for commercial development. As the first exploration period ended on March 25, 2025, the project decided not to proceed to the second exploration period. The relinquishment of the exploration block was completed and officially approved, effective January 6, 2026”.
On the midstream front, PTTEP holds a 2 per cent interest in Oman LNG and an indirect 0.7 per cent interest in Qalhat LNG, which together have a combined capacity of 11.4 million tonnes per annum.
Marking an important foray into the clean energy sector, PTTEP was awarded a concession covering Block Z1-02 for the production of green hydrogen. The project is being developed as a joint venture between FutureTech Energy Ventures Company Limited (FTEV), a wholly owned subsidiary of PTTEP Group and its consortium partners, namely POSCO Holdings, Samsung Engineering, Korea East-West Power, Korea Southern Power and MESCAT Middle East DMCC.