Central & SE Asia / Australasia

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Summary | Profile

Country profile: Thailand

Location: 514,000
Climate: tropical; rainy, warm, cloudy southwest monsoon (mid-May to September); dry, cool northeast monsoon (November to mid-March); southern isthmus always hot and humid
Terrain: central plain; Khorat Plateau in the east; mountains elsewhere
Size: 514000 sq. km total (Land area: 511770 sq. km  Water area: 2230 sq.km)
Population: 65,493,298
Languages: Thai, English (secondary language of the elite), ethnic and regional dialects
Government: constitutional monarchy
Capital city: Bangkok
Legal system: based on civil law system, with influences of common law; has not accepted compulsory ICJ jurisdiction
Currency: baht (THB)

Country profile

Thailand has limited domestic oil production and reserves, and imports make up a significant portion of the country’s oil consumption. Thailand holds large proven reserves of natural gas, and natural gas production has increased substantially over the last few years. However, the country still remains dependent on imports of natural gas to meet growing domestic demand for the fuel. In September 2006, a military coup overthrew the government of Prime Minister Thaksin Shinawatra. The change in leadership did not have any immediate impact on oil or natural gas production.

During 2006, Thailand’s real gross domestic product (GDP) grew by an estimated 5.0 percent, right on trend with average 5-year growth levels.

Energy production and consumption

Oil Gas
Production: 310,900 bbl/day (2005 est.) 22 billion cu m (2005 est.)
Consumption: 929,000 bbl/day (2005 est.) 31 billion cu m (2005 est.)
Exports: 225,700 bbl/day (2005 est.)  
Imports: 893,400 bbl/day (2005 est.) 8 billion cu m (2005 est.)
Reserves: 291 million bbl (1 January 2006 est.) 400 billion cu m (2005 est.)
Major fields:

Thailand - recent news

15 Apr 24
Thailand: Valeura Energy announces three oil discoveries in the Gulf of Thailand
Valeura Energy, the upstream oil and gas company with assets in the Gulf of Thailand and the Thrace Basin of Türkiye, has announced three oil discoveries on its assets in the offshore Gulf of Thailand - one in the Nong Yao D area, and two in the north-east portion of the Wassana concession.
04 Apr 24
Thailand: PTTEP signs MoU with Kasetsart University on E&P research and professional development, leading to advance CCS technology in Thailand
PTTEP and Kasetsart University have jointly signed the Memorandum of Understanding (MoU) under the 'PTTEP Subsurface University Energy Connect' project. The collaboration is aimed to carry out research study on geoscience and petroleum engineering, develop professionals in petroleum exploration and production, and explore for carbon storage sites.
26 Mar 24
Thailand: Valeura Energy reports results in 2023 from first year of Thailand operations
Valeura Energy, the upstream oil and gas company with assets in the Gulf of Thailand and the Thrace Basin of Türkiye, has reported its financial and operating results for the three month period and year ended December 31, 2023. Through the Gulf of Thailand acquisitions completed in 2022 and 2023 Valeura has become a strongly cash flow generating business, with assets that are exceeding expectations on all fronts.
20 Mar 24
Thailand: PTTEP ramps up G1/61 gas production to 800 MMSCFD to alleviate the impact of energy prices
PTTEP has ramped up the G1/61 Project’s sales volume to 800 million cubic feet per day as planned. The increased gas delivery will help minimize the impact of electricity price and enhance national energy security.
20 Feb 24
Thailand: Valeura Energy announces results of third-party independent reserves and resources assessment for its Thailand assets
Valeura Energy has announced the results of its third-party independent reserves and resources assessment for its Thailand assets. The Company's work programme in 2023 has replaced more than double the oil produced, extended the anticipated economic life of the portfolio, and recorded a significant up-tick in NPV.

Thailand - more news

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