PTTEP Expands Footprint in Oman’s Energy Sector: What It Means for Investors and Business Growth
MUSCAT, APRIL 1 — Thailand’s national oil and gas exploration and production company, PTT Exploration and Production Public Company Limited (PTTEP), is actively strengthening its position across key segments of Oman’s hydrocarbon value chain as part of a long-term international growth strategy.
In Oman, PTTEP holds significant interests in upstream assets, LNG facilities, and a gigawatt-scale green hydrogen project in collaboration with various international partners.
“PTTEP continues to expand its presence in the Middle East and Africa through new investments and development opportunities, including initiatives in the United Arab Emirates, alongside ongoing production activities in Oman. These efforts aim to boost our production capacity and reinforce long-term business stability,” said Chatchai Phromlert, Chairman, and Montri Rawanchaikul, Chief Executive Officer, in the preface to the company’s 2025 Annual Report.
PTTEP’s key investment in Oman is its 20 percent stake in Block 61, a major gas concession in central Oman that produces approximately one-third of the country’s total gas output. BP Exploration (Epsilon) Limited, a BP subsidiary, operates this block, where natural gas production averaged 1,476 million standard cubic feet per day (MMSCFD) in 2025, alongside condensate output of 54,886 barrels per day.
Additionally, PTTEP holds a 2 percent interest in Block 6, Oman’s largest onshore oil-producing asset, operated by Petroleum Development Oman (PDO). Crude oil production at this block averaged 710,351 barrels per day in 2025.
In southern Oman, PTTEP has a 1 percent stake in Block 53, home to the heavy oil Mukhaizna field, operated by Occidental Petroleum. This block produced an average of 74,177 barrels per day last year. Stakeholders recently agreed to extend the Exploration and Production Sharing Agreement (EPSA) for this project by 15 years, through 2050.
Crude oil from these three blocks is marketed under medium-term contracts, while natural gas from Block 61 is sold under a long-term agreement with the Omani government.
PTTEP also exited Block 12, an onshore natural gas exploration block in central Oman where it held a 20 percent interest and TotalEnergies was the operator. After concluding the first exploration period on March 25, 2025, the partners found no commercially viable prospects and chose not to proceed to the second period. The relinquishment of Block 12 was officially approved and completed as of January 6, 2026.
On the midstream side, PTTEP holds a 2 percent stake in Oman LNG and an indirect 0.7 percent stake in Qalhat LNG, combining for a total capacity of 11.4 million tonnes per annum.
In a significant advance into the clean energy sector, PTTEP was awarded a concession for Block Z1-02 to produce green hydrogen. The project will be developed by FutureTech Energy Ventures Company Limited (FTEV), a wholly owned PTTEP subsidiary, in partnership with POSCO Holdings, Samsung Engineering, Korea East-West Power, Korea Southern Power, and MESCAT Middle East DMCC.
This diversified portfolio underscores PTTEP’s commitment to expanding its presence and capabilities within Oman’s evolving energy landscape.
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PTTEP’s strategic consolidation in Oman’s hydrocarbon sector, including major stakes in gas and oil blocks alongside a significant green hydrogen project, signals robust opportunities for energy diversification and long-term growth. For businesses, this underscores the need to align with evolving energy trends, particularly in clean energy, while investors should consider the potential of green hydrogen as a transformative investment frontier in Oman’s energy landscape.
