The PTT Pcl has big plans. The firm – Thailand’s largest energy firm and third largest oil and gas company according to market value – has plans for investments of $100bn in the next decade. According to the company’s Chief Executive Prasert Bunsumpun, at the end of this, it is anticipated that annual group revenue will reach $200bn. The company controls over “30 petroleum, gas exploration, petrochemical and refinery businesses.”
So, the next question is, how would the money be allocated? Around 50 percent of it would go towards foreign investment; the remaining half to petroleum exploration and production. First though, the plans need to get through the board. So by the end of this month the five-year plan is being put to the board.
According to an article in BusinessWeek, with the plan, the expectation is that the PTT will invest approximately 300bn baht. Over 400bn baht is due to go to PTT Exploration and Production Pcl (PTTEP) and over 200bn baht to the refinery and petrochemical areas in which it works.
In addition, as Bansumpun pointed out, the PTT plans to “boost its coal output to 30-40 million tons in 2015 and to 70 million tonnes in 2020 from 10 million tons now.” It plans to do this once it has acquired Straits Resources Ltd., (Australian coal miner).