You are using an outdated browser and your browsing experience will not be optimal. Please update to the latest version of Microsoft Edge, Google Chrome or Mozilla Firefox. Install Microsoft Edge

August 2, 2022

Thailand to Open Bidding for Offshore Oil and Gas Fields

Subscribe to Updates

The Ministry of Energy is preparing to open a bidding round for the right to explore and produce petroleum in three offshore exploration blocks in the Gulf of Thailand: Exploration Block Nos. G1/65, G2/65, and G3/65. Announced in April 2022 with an eye toward national energy sustainability and security, this is the first opportunity for exploration of new offshore areas in 15 years.

The total area of the three exploration blocks is 35,164.01 square kilometers, and operations in the exploration blocks will be subject to the terms and conditions of the required production sharing contract (PSC). Under the PSC, the Thai government is entitled to receive royalty payments against profits, any applicable cost recovery, and profit petroleum. The government also has the authority to monitor the petroleum operations in collaboration with the successful bidder.

On July 27, 2022, the Department of Mineral Fuels (DMF) held a conference for prospective investors in order to clarify general information regarding the petroleum bidding round. Currently, interested investors can request the right to enter the bidding-round data room located at the DMF by emailing [email protected] by September 2, 2022.

To participate in the bidding round, interested investors must submit an application together with required documents to the DMF during the period of September 5–16, 2022.

For further information on the bidding round, or on any aspect of energy law in Thailand, please contact Tilleke & Gibbins at [email protected] or +66 2056 5555.

Related Professionals

Industries

Energy

Location

RELATED INSIGHTS​ 

April 28, 2011
This guide provides a detailed overview of doing business in Thailand. Topics covered in the guide include investment, import and export regulations, exchange controls, tax, requirements for establishment of a business, structures for doing business, cessation or termination of a business, labor legislation, and immigration requirements. The guide provides an invaluable primer for investors new to the Thai business investment.
Read More
April 28, 2011
This chapter provides an overview of the legal system and key laws for foreign companies doing business in Thailand. Presented in a question-and-answer format, the chapter examines the rules governing foreign investment, business vehicles, employment, tax, competition, intellectual property, marketing agreements, e-commerce, data protection, and product liability.
Read More
April 27, 2011
Last year, around the same time as Thailand’s “Red Shirt” crisis, another crisis was under way. Of course, we are referring to Map Ta Phut, a thoroughly industrialized municipality which became the geographic focus of litigation over various government entities’ compliance with environmental provisions in the constitution. Though the lawsuit was against government agencies and people, the resulting gridlock halted the progression of some 76 industrial projects that had already been approved pursuant to then-current procedures.
Read More
April 19, 2011
On the heels of its 2006 entry into the WTO, Vietnam’s economy continues to show high growth and is generally considered the second fastest growing economy in Asia behind China. This article provides a brief overview on a number of important considerations for those considering investing or trading in Vietnam.
Read More