Thailand’s cabinet has approved new concessions for onshore oil and gas exploration and production, giving companies access to three petroleum blocks as the government seeks to strengthen domestic energy security.
The concessions were awarded under the country’s 25th petroleum bidding round and cover areas in northeastern and central Thailand.
PTT Exploration and Production International has been granted rights to two blocks, known as L1/66 and L3/66.
The third block, L8/66, has been awarded to Pan Orient Energy (Siam) in partnership with CanAsia Energy Corp.
The government said the new concessions are intended to encourage exploration for additional domestic petroleum resources and reduce Thailand’s reliance on imported energy.
The move comes as Thailand faces growing demand for natural gas and continues to manage uncertainty in international energy markets.
Officials said expanding domestic exploration could help improve the country’s long-term energy security by increasing opportunities to identify and develop new sources of oil and gas.
The latest concessions are part of Thailand’s broader strategy to attract investment into the petroleum sector. The government has also opened a new bidding round for offshore exploration in the Gulf of Thailand and other areas as it seeks to develop additional domestic resources.
The Department of Mineral Fuels said the latest onshore concessions would create opportunities for further exploration and development while supporting investment in Thailand’s energy industry.
The government is also seeking to expand the role of natural gas as an important part of the country’s energy system while increasing LNG import capacity to meet future demand.
The new licences will allow the successful companies to proceed with exploration activities subject to the conditions and requirements of their concessions.
Authorities expect the additional exploration to provide greater information about Thailand’s remaining petroleum resources and determine whether commercially viable reserves can be developed.
The cabinet’s decision reflects Thailand’s continuing effort to balance domestic energy development with the need to secure reliable supplies as the country remains dependent on both local production and imports.
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