PTTEP, Valeura respond to Thai energy security request

PTT Exploration and Production Public Co. (PTTEP) says it is monitoring closely the developing situation in the Middle East and has evacuated personnel from high-risk areas.

The company stressed that it does have a Business Continuity Plan (BCP) for managing business operations during periods of uncertainty. All its petroleum exploration and production operations in the UAE and Oman are currently continuing without interruption.

In Thailand, PTTEP has taken steps to support the Ministry of Energy’s policy of maintaining continuity of domestic petroleum supply and ensuring national energy security.

These measures include maximizing natural gas production in the Gulf of Thailand and adjusting schedules for planned maintenance shutdowns to mitigate potential impacts on industry and domestic users.

Valeura Energy, which operates various producing concessions in the Gulf of Thailand, has also acknowledged the Ministry‘s request for domestic petroleum producers to support energy security in Thailand, following disruptions to the normal supply of oil from the Middle East region.

The request includes postponing planned downtime of oil production facilities and temporarily suspending crude oil exports.

Valeura added that it was seeking clarification from the Ministry to ensure compliance with the request. However, the company does not expect the new government action to impact its operations offshore Thailand, with production continuing as usual.

Typically, about one-third of Valeura’s oil is sold to the domestic Thai market. The country imports about 92% of its daily crude oil requirements, the company added, primarily from the Middle East region.