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26th Petroleum Exploration Round Update

26th Petroleum Exploration Round Update

Thansettakij•Economy•265d ago

Reader Briefing

Thailand's Department of Mineral Fuels is advancing the 26th petroleum exploration round in the Andaman Sea, with bidding expected to open by June 2026 after cabinet approval.

  • •The Department of Mineral Fuels has announced an area in the Andaman Sea for the 26th petroleum exploration and production concession.
  • •The designated concession block, A1/68, covers over 60,000 square kilometers in the Andaman Sea.
  • •The next step involves presenting the bidding announcement for cabinet approval, with a target opening for applications around June 2026.
  • •The entire process, from invitation to announcing winners, is estimated to take about one year, aiming to boost domestic petroleum exploration and national revenue.

Overview

  • •The Department of Mineral Fuels published a Royal Gazette announcement designating an area in the Andaman Sea for the 26th petroleum exploration and production concession.
  • •The announcement specifies concession block A1/68, covering an area of 60,277.90 square kilometers, with boundaries outlined in map number ป.100/2568.
  • •The Department of Mineral Fuels will submit the proposal for the 26th petroleum exploration and production bidding announcement to the new Cabinet for approval.
  • •The Minister of Energy is expected to sign and open the application period for the 26th bidding round by approximately June 2026.
  • •The entire bidding and selection process for the 26th concession round is estimated to take about one year to announce the winning bidder.
  • •Following the signing of the invitation announcement, the Department will publicize the bidding opportunity and provide an information room for potential investors.
  • •The process of investors purchasing data packages, conducting analysis, and submitting bids is expected to take approximately 4-5 months.
  • •Sub-committees will review applications, including legal aspects of new concession agreements, before presenting to the Petroleum Committee for review.
  • •This concession round is expected to increase domestic petroleum exploration and production, thereby generating more revenue for Thailand through investment and royalty payments.

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Key Quotes

Department of Mineral Fuels
"The Department of Mineral Fuels announced the designation of areas for the 26th petroleum exploration concession."
กรมเชื้อเพลิงธรรมชาติ ออกประกาศให้กำหนดเขตพื้นที่สำรวจปิโตรเลียม ครั้งที่ 26

Key Entities

Organization

Department of Mineral Fuels(กรมเชื้อเพลิงธรรมชาติ)
The government agency responsible for announcing and managing the 26th petroleum exploration and production concession in the Andaman Sea.
Cabinet(คณะรัฐมนตรี)ℹ️
The government body that will consider and approve the announcement for the 26th petroleum exploration and production bidding round.
Ministry of Energy(กระทรวงพลังงาน)ℹ️
The ministry to which the Minister of Energy belongs, overseeing the final steps of the 26th petroleum exploration concession process.
Petroleum Committee(คณะกรรมการปิโตรเลียม)
The committee responsible for reviewing investor proposals for the 26th petroleum exploration concessions.

Place

Andaman Sea(ทะเลอันดามัน)ℹ️
The oceanic region where the 26th petroleum exploration concession block A1/68 is located.

Law

Map number ป.100/2568(ป.100/2568)
The map designation referenced in the Royal Gazette announcement that defines the boundaries of the 26th petroleum exploration concession area.

Person

Minister of Energy(รัฐมนตรีว่าการกระทรวงพลังงาน)
The minister whose signature is expected to open the application period for the 26th petroleum exploration and production bidding round.