ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Energy Minerals

PTT Exploration & Production Plc

Company Background

PTT Exploration and Production is the flagship oil and gas exploration and production arm of Thailand's state-owned resources giant PTT. It produces about a quarter of Thailand's petroleum. The company has the second-largest market capitalization on the Thai stock exchange, after PTT, which holds approximately 65% of its shares.

Assets in Thailand account for about half of those owned by PTTEP's total in terms of value. It operates more than 40 projects in places such as Thailand, Australia and Africa.

Gas reserves in Thailand are projected to dry up in the near future. The company is therefore stepping up investments abroad. Myanmar, where TPPEP has three offshore projects in production, is one of its prime focuses. The company in 2012 also acquired Britain's Cove Energy, which owns interests in Mozambique.

Business Summary

PTT Exploration & Production Plc engages in the exploration and production of petroleum, foreign gas pipeline transportation, and investment in energy business. The firm's projects include Myanmar M3 Project, Bongkot Project, Contract 4 Project, and Mariana Oil Sands Project. It operates through the following segments: Exploration & Productions and Head Office & Others. The company was founded on June 20, 1985 and is headquartered in Bangkok, Thailand.

Financial Highlights

Dec 2021 THBUSD
Gross Profit113,940.87M3,558.84M
Operating income85,529.77M2,671.45M
Income before tax79,903.13M2,495.70M
Net income38,518M1,203.07M
Diluted EPS9.700.30
Dividends Per Share50.15
Total Assets783,535.66M23,455.64M
Total liabilities373,167.91M11,171.02M
Total equity410,367.75M12,284.62M
Operating cash flow106,930.99M3,339.89M
Currency in THBCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 147,724.65M 171,809.15M 191,052.73M 160,400.67M 219,068.07M
Gross Profit 68,822.66M 89,663.65M 101,116.45M 67,055.77M 113,940.87M
Operating income 47,891.30M 65,054.15M 72,301.30M 44,503.44M 85,529.77M
Income before tax 26,249.04M 59,714.33M 69,373.82M 40,121.06M 79,903.13M
Net income 18,032.19M 34,484.36M 46,517.72M 22,427.25M 38,518M
EBITDA 104,732.71M 124,863.15M 135,112.14M 109,753.21M 155,823.74M
Diluted EPS 4.54 8.68 11.71 5.64 9.70
Dividends Per Share 4.25 5 6 4.25 5
Total Assets 628,121.29M 632,256.47M 671,990.29M 675,637.09M 783,535.66M
Total liabilities 289,980.92M 280,915.02M 320,949.61M 326,208.20M 373,167.91M
Total equity 338,140.37M 351,341.44M 351,040.68M 349,428.88M 410,367.75M
Operating cash flow 85,214.01M 103,838.56M 108,953.30M 76,250.59M 106,930.99M
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 4,353.35M 5,314.68M 6,154.09M 5,125.41M 6,842.40M
Gross Profit 2,028.16M 2,773.62M 3,257.11M 2,142.68M 3,558.84M
Operating income 1,411.32M 2,012.36M 2,328.93M 1,422.05M 2,671.45M
Income before tax 773.54M 1,847.18M 2,234.63M 1,282.02M 2,495.70M
Net income 531.39M 1,066.72M 1,498.40M 716.63M 1,203.07M
EBITDA 3,086.40M 3,862.47M 4,352.16M 3,507.03M 4,867.02M
Diluted EPS 0.13 0.26 0.37 0.18 0.30
Dividends Per Share 0.12 0.15 0.19 0.13 0.15
Total Assets 19,273.43M 19,418.19M 22,434.26M 22,551.30M 23,455.64M
Total liabilities 8,897.84M 8,627.61M 10,714.83M 10,888.12M 11,171.02M
Total equity 10,375.58M 10,790.58M 11,719.42M 11,663.18M 12,284.62M
Operating cash flow 2,511.20M 3,212.10M 3,509.55M 2,436.49M 3,339.89M

Valuation Measures

Dec 2021
Operating margin39.04%
Profit margin17.58%

Key executives

  • Chief Executive Officer & Director: Montri Rawanchaikul
  • Executive Vice President-Operations Support Group: Suksant Ongvises
  • Executive Vice President-Finance & Accounting: Sumrid Sumneing
  • Senior Vice President-Technology: Bundit Pattanasak
  • SVP-Geosciences, Reservoir Engineering & Technical: Chalongrut Ya-Anan


  • PTT Public Co., Ltd. (63.7%)
  • Government of Thailand (2.6%)
  • Social Security Office of Thailand (1.1%)
  • Krungsri Asset Management Co., Ltd. (0.6%)
  • TMB Asset Management Co., Ltd. (0.3%)
  • Aberdeen Asset Managers Ltd. (0.3%)
  • APG Asset Management NV (0.2%)
  • Ignis Investment Services Ltd. (0.0%)
  • TA Investment Management Bhd. (0.0%)
  • Causeway Capital Management LLC (0.0%)

Contact Details

  • Website:
  • Address: 555/1 Energy Complex Building A, Vibhavadi-Rangsit Road, Chatuchak, Bangkok, 10900, Thailand
  • Phone: +66.2.537.4000

Related Companies

  • PTTEP Brazil Investments in Oil & Gas Exploration & Production
  • PTTEP Netherlands Cooperatie UA
  • PTTEP (Kazakhstan) Corp.
  • Partex Services Portugal-Servicos para a Industria Petrolifera
  • Partex Services Corp.
  • PTTEP Gas Corp.
  • Participations & Explorations Corp.
  • PTTEP (Angola) Corp.
  • PTTEP Energy Development Co., Ltd.
  • PTTEP Sarawak Oil Ltd.
  • AI & Robotics Ventures Co., Ltd.
  • EP-Tech Ventures Holding Co., Ltd.
  • Cove Energy Mozambique Rovuma Onshore Ltd.
  • PTTEP Australia Pty Ltd.
  • PTTEP Brazil Investment BV
  • PTTEP Mexico E&P Ltd. S de RL de CV
  • PTTEP Netherland Holding Ltd.
  • Cove Energy Kenya Ltd.
  • PTTEP Southwest Vietnam Co., Ltd.
  • PTTEP Energy Holding (Thailand) Co., Ltd.
  • Sinphuhorm Holdings Ltd.
  • PTTEP Business Center Co., Ltd.
  • PTTEP G7 Ltd.
  • PTTEP Australia Timor Sea Pty Ltd.
  • PTTEP Australasia (Staff) Pty Ltd.
  • PTTEP Australasia (Operations) Pty Ltd.
  • PTTEP Treasury Center Co., Ltd.
  • PTTEP Australasia (Ashmore Cartier) Pty Ltd.
  • PTTEP Hoang-Long Co., Ltd.


  • Chevron Corporation
  • TotalEnergies SE
  • Mitsui & Co.,Ltd
Last Updated on 28 Sep, 2022

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more