Bangkok (VNA) – Thailand’s energy landscape is heading toward a major strategic shift, after Energy Minister Auttapol Rerkpiboon signalled that the government is preparing to open petroleum exploration blocks in the Andaman Sea.
The minister acknowledged that Thailand’s energy security is under pressure due to some reasons, including the declining gas reserves in the Gulf of Thailand. As a result, the government has shifted its strategy towards the Andaman Sea, where studies indicate high geological potential.
He emphasised that Thailand’s energy policy must maintain a balance between security, sustainability and affordability. Over-prioritising any one pillar, he warned, would harm both the public and the country’s competitiveness. Securing new energy sources is therefore “the heart of this balance.”
Department of Mineral Fuels Director-General Warakorn Brahmopala said the upcoming 26th petroleum licensing round in the Andaman Sea represents a “new hope” for Thailand’s energy sector. Geological data suggests the potential for a major gas discovery, comparable to nearby Malaysian fields containing up to 10 trillion cubic feet of reserves.
If Thailand finds even half that volume, Warakorn noted, the country could secure 20 years of supply.
Several global oil majors — Chevron, ENI, Total, Exxon and PTTEP — have already expressed strong interest. The department is considering a hybrid fiscal regime, combining concession and PSC (production sharing contract) models to attract investment in deep-water zones, where drilling costs average 27 million USD per well./.
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