Thailand is to invite bids for offshore oil and gas exploration in the Andaman Sea, with cabinet approval expected by the end of this month, according to Energy Ministry permanent secretary Prasert Sinsukprasert.
The auction (Round 26) will cover a single exploration and production (E&P) field spanning 68,000 square kilometres.
Global petroleum giants including Chevron, TotalEnergies, Eni, Mubadala Energy and PTT Exploration and Production (PTTEP) have expressed an interest in the tender, he said.
Thai energy officials believe the geological setting of the Andaman Sea mirrors that of nearby Indonesian waters, where significant reserves have been uncovered. In 2023, Mubadala Energy, an Abu Dhabi-based firm, announced the discovery of 7 trillion cubic feet of gas in Indonesia’s South Andaman Block.
Thailand’s Department of Mineral Fuels (DMF) hopes that advances in deepwater exploration technology could finally unlock reserves in its own territory.
Despite granting licences 14 times between 1971 and 2005, no commercial discoveries were made. The most recent exploration attempt in July 2005 yielded only traces of petroleum.
The wider Andaman basin is drawing fresh attention from international oil companies. In India, the state-owned Oil and Natural Gas Corporation and Oil India are conducting multi-well offshore campaigns around the Andaman Islands.
Meanwhile, Malaysia’s regulator recently awarded study rights in the neighbouring Langkasuka Basin to several firms including Eni, TotalEnergies, BP, PTTEP, Petronas and Pertamina.
In another development, the DMF is preparing to announce the winners of the Round 25 onshore auction later this month.
The tender covered nine blocks — seven in the North East and two in the central region — spanning more than 33,000 square kilometres.
The bids mark Thailand’s first onshore exploration auction since 2007.
Final bidders include international players such as ECO Orient Companies, backed by Hong Kong and China Gas Co, and Pan Orient Energy (Siam), owned by Malaysia’s Dialog, along with Thailand’s Sea Oil in partnership with CanAsia Energy.
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