Thailand seeks oil and gas with upcoming bids
Thailand's Department of Mineral Fuels announced plans to open bids for nine onshore petroleum exploration areas by year-end.
With a focus on seven northeastern and two central regions, covering 33,944 km², the goal is to discover new oil and gas reserves, thus reducing import dependence, according to Director-General Warakorn Brahmopala.
Warakorn highlighted the domestic need for increased natural gas production, pressing PTT Exploration and Production to boost output to 800 million cubic feet daily by April.
The nation presently manages 34 active exploration sites, with a total yield of about 558,000 barrels of oil equivalent per day. Despite this, local production fulfills only 28% of demand, necessitating substantial imports, mainly from Malaysia and Myanmar.
Additionally, the department oversees the carbon capture standards in line with Thailand's carbon neutrality ambitions.
Warakorn highlighted the domestic need for increased natural gas production, pressing PTT Exploration and Production to boost output to 800 million cubic feet daily by April.
The nation presently manages 34 active exploration sites, with a total yield of about 558,000 barrels of oil equivalent per day. Despite this, local production fulfills only 28% of demand, necessitating substantial imports, mainly from Malaysia and Myanmar.
Additionally, the department oversees the carbon capture standards in line with Thailand's carbon neutrality ambitions.
