PTTEP posts first-half profit of 39 billion baht, surging 29.77%, driven by projects in the Gulf of Thailand and newly joined investment projects, with average petroleum sales volume at 563,179 barrels per day. The company is also accelerating domestic gas production above the daily contractual quantity to ease the energy impact of the Middle East conflict. The board has approved an interim dividend of 4.50 baht per share.
PTTEP has disclosed operational progress for the first half of 2026, maintaining full-capacity natural gas production to absorb the energy impact of the ongoing conflict in the Middle East and ensure national energy security. The company also remitted more than 27,700 million baht in business revenues to the state for national development, while continuing to deliver returns to shareholders by resolving to pay an interim dividend of 4.50 baht per share.
Mr. Montri Rawanchaikul, Chief Executive Officer of PTT Exploration and Production Public Company Limited (PTTEP), disclosed that for the first six months of 2026, PTTEP recorded total revenues of 176,756 million baht (equivalent to USD 5,495 million), with average petroleum sales volume of 563,179 barrels of oil equivalent per day, up 14% compared with the same period of the previous year. This was driven primarily by projects in the Gulf of Thailand and projects in which PTTEP joined as an investor in the prior year, namely the Thailand-Malaysia Joint Development Area A-18 project, the Algeria Touat project, and the Malaysia SK408 project. Meanwhile, the average product selling price for the first six months stood at USD 49.54 per barrel of oil equivalent, up 10% compared with the same period of the previous year, in line with movements in global crude oil prices. As a result, the company recorded a net profit of 39,032 million baht (equivalent to USD 1,209 million) for the first half of the year, an increase of 29.77% compared with the same period last year, when net profit stood at 30,076 million baht.
In this regard, the Board of Directors' meeting held on 31 July 2026 resolved to approve the payment of an interim dividend for the first six months of 2026 at a rate of 4.50 baht per share, with the XD date set for 14 August 2026, and dividend payment scheduled for 28 August 2026.
During the first half of 2026, PTTEP remitted revenues to the state in the form of income taxes, royalties, and other profit-sharing contributions totalling more than 27,700 million baht, to serve as part of the country's development in various areas. In addition, the state also receives a share of petroleum production from the G1/61 and G2/61 projects under Production Sharing Contracts (PSC), representing direct revenue from petroleum production that the state can utilise for further national development.
Mr. Montri stated that amid the ongoing unrest in the Middle East, PTTEP is focused on managing domestic energy sources by producing natural gas from domestic fields at full capacity, at a rate of approximately 2,680 million cubic feet per day — exceeding the Daily Contractual Quantity (DCQ) of approximately 2,500 million cubic feet per day — in order to help mitigate the energy impact on the public and industrial sector and to strengthen national energy security.
On the sustainability front, PTTEP has successfully achieved the first-ever Total Wellhead Platform Reuse in Thailand at the Jakkawan K (JKWK) wellhead platform of the Funan field under the G1/61 project. The topside, jacket, and partial pile sections of the decommissioned wellhead platform were relocated and reinstalled for use at the same field, in line with the Circular Economy concept, combined with modern construction engineering and technology. This maximises resource utilisation, shortens construction-to-installation timelines, reduces construction costs, decreases the consumption of new materials, and also helps reduce greenhouse gas emissions.
Furthermore, PTTEP has signed a Memorandum of Agreement (MOA) with the Department of Fisheries and the Department of Mineral Fuels to convert decommissioned petroleum wellhead platform jackets into artificial reefs in the Gulf of Thailand. A total of 9 decommissioned wellhead platform jackets will be placed and handed over to the Department of Fisheries to enhance the richness of marine ecosystems, increase habitat for marine life, and promote sustainability in the fisheries sector. Operations are expected to commence during the fourth quarter of this year.
