Thailand to offer petroleum exploration rights on 9 fields in 2025

WEDNESDAY, DECEMBER 25, 2024

Expected to attract investments worth $70 million, the surveys aim to boost the economy, generate government revenue and create jobs

The Department of Mineral Fuels (DMF) will next year open the bidding for petroleum surveys on nine land-based fields, the department chief said on Wednesday. 

Warakorn Prommobol, DMF director-general, said interested energy firms can download the department’s application to participate in the bidding, which is expected to be launched in July next year. The DMF falls under the jurisdiction of the Energy Ministry. 

He said the nine fields would cover 33,444.64 square kilometres. Seven of these fields are in the Northeast provinces of Nong Bua Lampu, Udon Thani, Khon Kaen, Sakon Nakhon, Kalasin, Mahasarakham, Nakhon Phanom, Mukdahan, Yasothon, Amnart Charoen, Chaiyaphum, Nakhon Ratchasima, Buri Ram, Roi Et and Surin.

He said the other two fields cover areas of the central provinces of Phetchabun, Lopburi, Ratchaburi, Kanchanaburi, Nakhon Pathom and Suphanburi.

Warakorn believes that petroleum resources in the nine fields would attract investments worth up to US$70 million (2.39 billion baht). 

He said the department has also set up a data room for interested companies to study before deciding whether to participate in the bidding. He added that the bids will be considered by the end of next year before the list of winners is submitted to the Cabinet for approval. 

Warakorn said petroleum surveys on the nine fields should give the economy a boost by generating concession fees and income tax for the government. It should also create a lot of jobs for Thais. 

The surveys would also contribute to other relevant businesses, like restaurants and hotels, as well as interprovincial transportation.