Thailand Oil & Gas Upstream Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Report Covers Oil and Gas Companies in Thailand and the Market is segmented by Location of Deployment (Onshore and Offshore).

Thailand Oil & Gas Upstream Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Thailand Oil & Gas Upstream Market Size

Thailand Oil and Gas Upstream - Market Summary
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2020 - 2023
CAGR 3.00 %

Major Players

Thailand Oil and Gas Upstream Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Thailand Oil & Gas Upstream Market Analysis

The Thailand Oil and Gas Upstream Market is expected to register a CAGR of greater than 3% during the forecast period.

  • The offshore sector is expected to dominate the Thai oil and gas upstream market due to new discoveries and investments.
  • The oil and gas demand is expected to increase over the forecast period. The government is considering investments in numerous exploration and production projects, which can render opportunities for the growth of the market over the forecast period.
  • Thailand is increasing investments in the oil and gas sector, which is expected to drive the country's oil and gas market during the forecast period.

Thailand Oil & Gas Upstream Industry Overview

The Thai oil and gas upstream market is moderately consolidated. The key players in the market include Bangchak Corporation Public Company Limited, Exxon Mobil Corporation, PTT Public Company Limited, Chevron Corporation, and TotalEnergies SE.

Thailand Oil & Gas Upstream Market Leaders

  1. Bangchak Corporation Public Company Limited

  2. Exxon Mobil Corporation

  3. Chevron Corporation

  4. TotalEnergies SE

  5. PTT Public Company Limited

  6. *Disclaimer: Major Players sorted in no particular order
Market Concentration - Thailand Oil & Gas Upstream Market.PNG
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Thailand Oil & Gas Upstream Market News

  • In February 2021, Thailand's state-controlled oil firm, PTT, announced that it was planning an investment of USD 28.3 billion across all its operations for 2021-2025. It focuses on developing the country's natural gas industry while seeking future energy opportunities.
  • In May 2021, Valaris Limited was awarded a contract extension of approximately 240 days with Mubadala Petroleum Thailand offshore Thailand for VALARIS JU-115, a heavy-duty modern jackup. The extension is anticipated to begin in the first quarter of 2022, and, as a result, the VALARIS JU-115 is now expected to be under contract through September 2022.
  • In December 2021, Shelf Drilling announced it had secured contract extensions for a pair of jack-up drilling rigs with Chevron Thailand Exploration and Production, Ltd. for operations in the Gulf of Thailand. The extensions for the Shelf Drilling Chaophraya and Shelf Drilling Krathong are in direct continuation of the planned out of service projects at the end of each rig's current contract with the same client. The duration is 39 months for the Shelf Drilling Chaophraya and 36 months for the Shelf Drilling Krathong and is expected to commence in Q3 2022 and Q4 2022, respectively.

Thailand Oil & Gas Upstream Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Crude Oil Production and Consumption Forecast in thousand barrels per day, till 2027
  • 4.3 Natural Gas Production and Consumption Forecast in billion cubic feet per day, till 2027
  • 4.4 Proven and Probable Oil and Gas Reserves in Thailand
  • 4.5 Import and Export of Crude Oil (2011 - 2020)
  • 4.6 Import of Natural Gas (2011 - 2020)
  • 4.7 Government Policies and Regulations
  • 4.8 Market Dynamics
    • 4.8.1 Drivers
    • 4.8.2 Restraints
  • 4.9 Supply Chain Analysis
  • 4.10 PESTLE Analysis

5. MARKET SEGMENTATION - BY LOCATION OF DEPLOYMENT

  • 5.1 Onshore
  • 5.2 Offshore

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 Chevron Corporation
    • 6.3.2 PTT Public Company Limited
    • 6.3.3 Exxon Mobil Corporation
    • 6.3.4 PT Pertamina
    • 6.3.5 Schlumberger Limited
    • 6.3.6 TotalEnergies SE
    • 6.3.7 Bangchak Corporation Public Company Limited
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Thailand Oil & Gas Upstream Industry Segmentation

The Thai oil and gas upstream market report includes:

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Thailand Oil & Gas Upstream Market Research FAQs

What is the current Thailand Oil and Gas Upstream Market size?

The Thailand Oil and Gas Upstream Market is projected to register a CAGR of greater than 3% during the forecast period (2025-2030)

Who are the key players in Thailand Oil and Gas Upstream Market?

Bangchak Corporation Public Company Limited, Exxon Mobil Corporation, Chevron Corporation, TotalEnergies SE and PTT Public Company Limited are the major companies operating in the Thailand Oil and Gas Upstream Market.

What years does this Thailand Oil and Gas Upstream Market cover?

The report covers the Thailand Oil and Gas Upstream Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Thailand Oil and Gas Upstream Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Thailand Oil & Gas Upstream Industry Report

Statistics for the 2025 Thailand Oil and Gas Upstream market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Thailand Oil and Gas Upstream analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.