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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 and Productions; Pipeline Transportation; and Head Office and Others. The company was founded on June 20, 1985 and is headquartered in Bangkok, Thailand.

Financial Highlights

Dec 2018 THBUSD
Gross Profit89,663.65M2,773.62M
Operating income65,054.15M2,012.36M
Income before tax59,714.33M1,847.18M
Net income34,484.36M1,066.72M
Diluted EPS8.680.26
Dividends Per Share50.15
Total Assets635,087.33M19,505.13M
Total liabilities283,255.69M8,699.49M
Total equity351,831.63M10,805.63M
Operating cash flow103,838.56M3,212.10M
Currency in THBCurrency in USD

Historical Data

 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 242,071.41M 185,770.57M 150,217.05M 147,724.65M 171,809.15M
Gross Profit 120,253.59M 62,267.59M 53,717.12M 68,822.66M 89,663.65M
Operating income 88,244.15M 38,266.69M 33,357.91M 47,891.30M 65,054.15M
Income before tax 56,306.89M -15,032.39M 21,726.11M 26,249.04M 59,714.33M
Net income 20,615.28M -32,703.67M 10,070.40M 18,032.19M 34,484.36M
EBITDA 180,345.01M 137,325.25M 107,749.16M 104,732.71M 124,863.15M
Diluted EPS 5.19 -8.24 2.58 4.54 8.68
Dividends Per Share 4.50 3 3.25 4.25 5
Total Assets 767,072.90M 708,863.56M 676,889.53M 628,121.29M 635,087.33M
Total liabilities 390,641.52M 337,241.02M 306,094.11M 289,980.92M 283,255.69M
Total equity 376,431.38M 371,622.54M 370,795.41M 338,140.37M 351,831.63M
Operating cash flow 133,229.40M 90,599M 73,590.61M 85,214.01M 103,838.56M
 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 7,452.12M 5,420.37M 4,257.78M 4,353.35M 5,314.68M
Gross Profit 3,701.98M 1,816.83M 1,522.56M 2,028.16M 2,773.62M
Operating income 2,716.57M 1,116.53M 945.50M 1,411.32M 2,012.36M
Income before tax 1,733.39M -438.61M 615.80M 773.54M 1,847.18M
Net income 634.63M -954.22M 285.43M 531.39M 1,066.72M
EBITDA 5,551.88M 4,006.84M 3,054.06M 3,086.40M 3,862.47M
Diluted EPS 0.15 -0.24 0.07 0.13 0.26
Dividends Per Share 0.13 0.08 0.09 0.12 0.15
Total Assets 23,315.28M 19,698.86M 18,901.98M 19,273.43M 19,505.13M
Total liabilities 11,873.60M 9,371.71M 8,547.60M 8,897.84M 8,699.49M
Total equity 11,441.68M 10,327.15M 10,354.37M 10,375.58M 10,805.63M
Operating cash flow 4,101.44M 2,643.47M 2,085.86M 2,511.20M 3,212.10M

Valuation Measures

Dec 2018
Operating margin37.86%
Profit margin20.07%

Key executives

  • President, Chief Executive Officer & Director: Phongsthorn Thavisin
  • Executive Vice President-Finance & Accounting: Sumrid Sumneing
  • SVP-Technology & Knowledge Management Division: Bundit Pattanasak
  • Vice President-Governance & Compliance: Kanes Supyaboonrod
  • Executive Vice President: Suchitra Suwansinpan


  • PTT Public Co., Ltd. (65.2%)
  • Social Security Office of Thailand (1.0%)
  • Government of Thailand (0.6%)
  • Dimensional Fund Advisors LP (0.5%)
  • TMB Asset Management Co., Ltd. (0.4%)
  • Norges Bank Investment Management (0.2%)
  • JPMorgan Asset Management (Singapore) Ltd. (0.1%)
  • SEB Investment Management AB (0.1%)
  • APG Asset Management NV (0.1%)
  • Acadian Asset Management LLC (0.1%)

Contact Details

  • Website:
  • Address: 555/1 Energy Complex Building A, 6th,19th-36th Flr, Vibhavadi-Rangsit, Bangkok, 10900, Thailand
  • Phone: +66.2.537.4000

Related Companies

  • PTTEP Treasury Center Co. Ltd.
  • PTTEP Hoang-Long Co. Ltd.
  • PTTEP Kim Long Vietnam Co. Ltd.
  • PTTEP Netherlands Holding Cooperatie UA
  • PTTEP International Ltd. (Myanmar)
  • Natuna 2 BV
  • PTTEP (Thailand) Ltd.
  • PTTEP Australia Perth Pty Ltd.
  • PTTEP Hoan-Vu Co. Ltd.
  • PTTEP HK Investment Ltd.
  • PTTEP HK Holding Ltd.
  • PTTEP Canada Ltd.
  • Ptt Flng Ltd.
  • Hess Exploration Thailand Co. Ltd.
  • Hess Thailand Holdings II Ltd.
  • PC Myanmar (Hong Kong) Ltd.
  • PTTEP Mea Ltd.
  • PTTEP Algeria Co. Ltd.
  • Andaman Transportation Ltd.
  • PTTEP Sadang Ltd.
  • PTTEP South Sageri Ltd.
  • PTTEP South Asia Ltd.
  • PTT EP Africa Investment Ltd.
  • Pttep Southwest Vietnam Pipeline Co. Ltd.
  • Pttep Bahrain Co. Ltd.
  • Pttep Malunda Ltd.
  • Pttep South Mandar Ltd.
  • PTTEP FLNG Holding Co. Ltd.
  • PTTEP Canada International Finance Ltd.
  • PTTEP Australia Offshore Pty Ltd.


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Last Updated on 20 Nov, 2019

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