Thailand Oil Gas Profile
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  • Oil is major source of energy supply in Thailand of which almost 90% is imported.
  • With limited domestic oil production and reserves, 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 since it is the second largest consumer in Southeast Asia.
  • Thailand's current natural gas proved and probable (2P) reserves stand at about 21 trillion cubic feet while the proved, probable and possible (3P) reserves amount to 30 trillion cubic feet. IN 2008, Thailand consumed about 3,610 MMSCFD.


Thai Petroleum Act and Thai Petroleum Tax Act
  • For the purpose of promoting petroleum exploration and production and to attract more investors, Thailand enacted the Petroleum Act (Thailand) and Petroleum Income Tax Act (Thailand) in 1971.
  • Petroleum exploration and production grants to private investors are in the form of concessionary contracts wherein the concessionaire pays to the government royalties, special remuneratory benefits and tax in consideration for the concession granted. Petroleum concession agreements (each a “PCA”) are modelled on a draft contained in a ministerial regulation and contain two periods, an Exploration Period and a Production Period.
Exploration Period
  • The exploration period can be up to six years in duration from the date of granting of such PCA, upon application, three year extensions to the initial six year period are possible. The Exploration Period is divided into three obligation periods. The first is comprised of the first three years of the term, the second is comprised of years four through six and the third is the period of the renewal of the petroleum exploration period, if such period has been renewed.
  • The concessionaire is required to fulfil certain work and expenditure obligations within the exploration period. During the exploration period, the concessionaire may produce petroleum with approval.
Production Period
  • The initial production period must not exceed twenty years from the day following the end of the exploration period, notwithstanding any petroleum production undertaken during the exploration period. The initial production period may be extended for a further period of not more than ten years.
Fiscal Regime
  • Since the last amendment to the Petroleum Act (Thailand) and the Petroleum Income Tax Act (Thailand), the Thai fiscal terms have become more attractive. Three main pillars in the fiscal regime are:
    • royalties, on a sliding scale of 5-15% of production;
    • petroleum income tax, presently at the rate of 50% of net income; and
    • special remuneratory benefits.
Foreign Ownership
  • There are no foreign ownership restrictions imposed on the petroleum industry.


  • Thailand has natural gas reserves of over 14 trillion cubic feet (Tcf). Over 90% of these reserves are located offshore, in the Gulf of Thailand.
  • At present, oil companies are operating on 40 exploration fields: 19 onshore and 21 in the Gulf of Thailand.

Active Companies

  • The country has been able to attract several major international companies to its concessions, most notably Chevron, Mitsui Oil Exploration and Hess. Chevron is the biggest operator in Thailand followed by PTTEP the national oil & gas company.
  • Salamander has a 100% operated interest in the Bualuang oil field, Gulf of Thailand and a 9.5% interest in the Sinphuhorm Gas Field on the Khorat Plateau in North East Thailand. Salamander also holds a number of exploration concessions onshore Northeast Thailand. In December 2007, Salamander was awarded two new exploration concessions L15/50 and L26/50 as part of the Thai 20th Licensing Round
  • Coastal Energy has interests in two concessions offshore (G5/43 and G5/50 in the Gulf of Thailand) and interests in four concessions onshore in the Khorat plateau in northeasstern Thailand.
  • Oil Optimization holds three petroleum concessions encompassing two and a half million net acres
  • Pan Orient has interests in four concessions in Thailand and is the operator for all four concessions

Crude Oils

  • Majority of production in Thailand is natural gas


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  • Thailand has 7 oil refineries, 5 of which belong to PTT. They have a combined processing capacity of about 1.2 million barrels per day.
  • Thailand imports the majority of its crude oil from countries in the Middle East

Oil Refineries in Thailand

PTT Refineries


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