Bangkok: PTT Exploration and Production Public Company Limited (PTT EP) has announced a strategic adjustment in response to the ongoing volatility arising from the Middle East conflict. The company aims to bolster its domestic production capabilities, revise maintenance schedules, and implement risk mitigation measures to safeguard against future uncertainties.

According to Thai News Agency, the announcement was made during the 2026 Annual General Meeting (AGM), where Mr. Chatchai Promlert, Chairman of the Board of Directors, alongside Mr. Montri Lavallchaikul, CEO, and other board members, discussed the company's performance, business achievements, and future strategies. The meeting also approved a dividend payment for 2025 at a rate of 8.75 baht per share. Conducted online as a sustainable event, the AGM emphasized the need for robust energy security in the current global climate.

During the meeting, shareholders raised concerns about the potential impacts of the Middle East conflict on PTTEP's investments. Mr. Montri assured that current investments in the UAE and Oman remain unaffected. In the UAE, activities are limited to exploration, while Oman maintains continuous onshore production. Domestically, PTTEP is aligned with Thailand's energy policies, focusing on maximizing natural gas production in the Gulf of Thailand and adjusting maintenance plans to avoid disruptions to the public and industries.

Given the expected volatility in crude oil prices in 2026, PTTEP has proactively hedged 13% of its production target for the year to manage price risks effectively. The company generates about 70% of its revenue from natural gas production and sales, with the remainder from oil and condensate production, highlighting its strategic focus on natural gas to ensure stable operations and financial performance.