PTTEP has announced the Final Investment Decision (FID) for the Bussabong gas field in the G3/65 Project, with first natural gas production targeted for 2028 to support Thailand’s growing energy demand.
Mr. Montri Rawanchaikul, Chief Executive Officer of PTT Exploration and Production Public Company Limited (PTTEP), said that PTTEP Energy Development Company Limited (PTTEP ED), a subsidiary of PTTEP, has made the Final Investment Decision (FID) to develop the Bussabong gas field in the G3/65 Project in the Gulf of Thailand. This marks the next stage following the successful natural gas discovery, advancing the project from exploration to development. 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.
For the development of the Bussabong gas field in the G3/65 Project, PTTEP plans to produce natural gas through a subsea pipeline system connected to the Central Processing Platform (CPP) and production facilities of the nearby North Bongkot field in the G2/61 Project, which is operated by PTTEP. Leveraging this existing infrastructure will enable the Bussabong gas field to be developed more efficiently and expeditiously. The development plan will proceed following approval of the relevant agreements by the government authorities. 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.
PTTEP was awarded petroleum exploration and production rights for the G3/65 Project under a Production Sharing Contract (PSC) in 2023 and serves as the operator. The project covers an area of approximately 11,647 sq kms. Following the satisfaction of conditions precedent under the Farm-out Agreement, PTTEP holds a 60% participating interest and remains as the operator, while Valeura Energy (Chaiyaphruek) Ltd. holds a 40% participating interest.
Currently, PTTEP has more than 50 petroleum exploration and production projects across over 10 countries worldwide. In Thailand, the company operates and participates in 20 projects, both onshore and offshore in the Gulf of Thailand.
Source: PTTEP
