PTT Exploration and Production Plc (PTTEP) has announced its final investment decision for the Bussabong gas field in the G3/65 Project, with the first natural gas production targeted for 2028 to support Thailand’s growing energy demand.
The facility, which is located in the Gulf of Thailand, is operated by PTTEP Energy Development, a subsidiary of PTTEP.
The investment decision follows a successful natural gas discovery, advancing the project from exploration to development, which is expected to take roughly two years, said Montri Rawanchaikul, chief executive of PTTEP.
The Bussabong gas field is expected to produce around 30 million standard cubic feet per day (MMSCFD) in 2028, increasing to 40 MMSCFD by 2030 to help meet the country’s growing energy demand, he said.
For the development of this gas field, PTTEP plans to produce natural gas through a subsea pipeline system connected to the central processing platform and production facilities of the nearby North Bongkot field in the G2/61 Project, which is also operated by PTTEP.
Leveraging this existing infrastructure will enable the Bussabong gas field to be developed more efficiently and quickly, said Mr Montri.
The development plan will proceed following approval of the relevant agreements by the government authorities.
PTTEP also 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 in 2023. The project covers an area of 11,647 square kilometres.
The company holds a 60% participating interest and remains as the operator, while Valeura Energy (Chaiyaphruek) Co holds a 40% participating interest.
PTTEP has more than 50 petroleum exploration and production projects across more than 10 countries.
In Thailand, the company operates and participates in 20 projects, both onshore and offshore in the Gulf of Thailand.