Thailand's PTTEP Announces 2028 Bussabong Gas Field Plan

Last Updated on September 23, 2026 by Jeff Tomas

BANGKOK – Thailand’s energy landscape is getting a major boost following a fresh announcement from PTT Exploration and Production Plc (PTTEP). The state-backed energy giant, alongside its partner Valeura Energy, has officially given the green light to develop the Bussabong gas field.

This critical milestone, known as a final investment decision, clears the path for a major offshore energy project in the Gulf of Thailand. The new development falls under the broader G3/65 Project, aiming to strengthen domestic energy security.

The partners are moving quickly to bring this vital resource online. First natural gas production is firmly targeted for late 2028. Initial output is expected to hit 30 million standard cubic feet per day, which will then rise to 40 million by 2030. This phased rollout is designed to directly support Thailand’s growing daily energy demand while minimizing upfront risks.

Key Takeaways
- PTTEP and Valeura Energy have officially approved the Bussabong gas field development in the Gulf of Thailand.
- First natural gas production is set for 2028, starting at 30 million standard cubic feet per day.
- The project will use existing nearby infrastructure to keep costs low and speed up delivery.

Building offshore energy platforms from scratch can take many years and cost billions. However, the Bussabong development will use a smarter, faster approach. The initial phase includes installing two wellhead platforms that will support up to 24 well slots each. These structures will be placed in water depths of about 75 to 90 meters.

To transport the gas, the team will lay a nine-kilometer subsea pipeline. This pipeline will connect directly to the existing central processing platform at the nearby North Bongkot field. Because PTTEP already operates this neighboring site, no extra processing facilities need to be built. Leveraging this pre-built infrastructure allows the Bussabong gas field project to move forward with incredible speed and financial efficiency.

The total development process is expected to take only about two years to complete. Valeura Energy expects its share of the project spending to be roughly $35 million across 2027 and 2028. By keeping costs contained, the partners can ensure a stable and affordable energy supply for the local market.

A Winning Partnership for Local Energy

The success of the Bussabong project highlights the strong teamwork between PTTEP and Valeura Energy. PTTEP holds a 60% controlling interest and serves as the primary operator. Meanwhile, Valeura Energy holds the remaining 40% stake after successfully completing a recent farm-in agreement. This marks Valeura’s first organic gas development project within its growing Thailand portfolio.

The geological layout of the Bussabong field is quite unique and requires a careful strategy. The underground reservoirs are divided into multiple separated fault-block compartments. Because of this broken-up structure, the companies plan to drill 25 specific development wells during the first phase. This step-by-step approach allows them to learn as they drill and adjust their methods over time.

Before making this final decision, the partners relied heavily on existing 3D seismic maps. They also looked at several historic gas discoveries in the area to confirm the field’s rich potential. A highly successful exploration well drilled in 2025 gave them the final confidence needed to move forward with the plan.

Exploring Future Gas Growth Opportunities

While the current focus remains heavily on the initial 2028 launch, PTTEP is already looking ahead. The Bussabong field is just one small part of the massive 11,647-square-kilometer G3/65 Project area. The company plans to conduct extensive further exploration activities across this sprawling offshore block.

One of the most exciting upcoming targets is the Nong Yao Northeast prospect. PTTEP plans to drill a new exploration well there to properly assess its hidden petroleum potential. If this new well proves successful, it could drastically increase the entire project’s production capacity in the coming decade.

Thailand’s upstream energy regulator has already approved the defined production area for Bussabong. This regulatory blessing opens the door for even more phased expansions down the road. Ultimately, this strategic development will play a crucial role in securing Thailand’s energy independence for years to come.