Cabinet Approves PTTEP's Winning of Two Onshore Petroleum Exploration Concessions, L1/66 and L3/66

RegulationCommodity
โดย Kaohoon·TH·Read original
Summary · why it matters

The Cabinet meeting on 15 September 2026 resolved to approve the results of the selection of petroleum concessionaires for the 25th onshore exploration blocks, covering areas in the Northeast and Central regions of Thailand. PTTEP International Limited, part of PTT Exploration and Production Public Company Limited, or PTTEP, was awarded the onshore exploration concessions L1/66 and L3/66. Meanwhile, Pan Orient Energy (Siam) Limited together with CanAsia Energy Corp. was awarded the onshore exploration concession L8/66. Warakorn Phrahmobol, Director-General of the Department of Mineral Fuels, disclosed that the Ministry of Energy opened applications for petroleum exploration and production rights for the 25th onshore exploration blocks under the concession system in late 2024, with petroleum operators both domestic and foreign submitting a total of 8 applications from 5 companies, covering 4 exploration blocks. This approval will lead to domestic petroleum exploration and production, increasing the chance of discovering new petroleum sources and reducing dependence on energy imports, especially for exploration blocks L1/66 and L3/66. If petroleum is discovered and can be developed commercially, they will be important energy sources supporting power generation at the Nam Phong power plant, the main power plant in the Northeast. As for the next step, the Department of Mineral Fuels will hold a concession signing ceremony between the Ministry of Energy and the winning companies. The auction results for onshore exploration block L6/66 are in the process of being submitted to the Cabinet for further consideration.

Impact on stocks 1

Energy▲ · 1 stocks

Theme Impact 1

Off-coverage companies 3

PTTEP International Company LimitedPrivate▲ Positive
Regulationrelevance

PTTEP International Limited was awarded the onshore exploration concessions L1/66 and L3/66 by the Cabinet.

CanAsia Energy Corp.Private▲ Positive
Regulationrelevance

CanAsia Energy Corp., together with Pan Orient Energy (Siam), was awarded the onshore exploration concession L8/66.

Pan Orient Energy (Siam) LimitedPrivate▲ Positive
Regulationrelevance

Pan Orient Energy (Siam) Limited, together with CanAsia Energy, was awarded the onshore exploration concession L8/66.

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