• 4 minutes Pompeo: Aramco Attacks Are An "Act Of War" By Iran
  • 7 minutes Who Really Benefits From The "Iran Attacked Saudi Arabia" Narrative?
  • 11 minutes Trump Will Win In 2020
  • 15 minutes Experts review Saudi damage photos. Say Said is need to do a lot of explaining.
  • 10 mins Ethanol is the SAVIOR of the Oil Industry, Convenience Store Industry, Automotive Supply Chain Industry and Much More!
  • 14 hours Saudi State-of-Art Defense System looking the wrong way. MBS must fire Defense Minister. Oh, MBS is Defense Minister. Forget about it.
  • 4 hours One of the fire satellite pictures showed what look like the fire hit outside the main oil complex. Like it hit storage or pipeline facility. Not big deal.
  • 1 hour Ethanol, the Perfect Home Remedy for A Saudi Oil Fever
  • 9 hours Let's shut down dissent like The Conversation in Australia
  • 31 mins Instagram Now Banning Photos Of People At Gun Ranges, Claiming They Promote "Violence"
  • 23 hours Saudis Buying Oil From Iraq
  • 4 hours Trump Accidentally Discusses Technology Used In The Border Wall
  • 2 hours Famous Manufacturer of Anti-Ethanol Additives Proves Ethanol's Safety and Benefits
  • 14 hours Hong Kong protesters appeal to Trump for support.
  • 8 hours Collateral Damage: Saudi Disruption Leaves Canada's Biggest Refinery Vulnerable
  • 24 hours Saudis Confirm a Cruise Missile from Iranian Origin
  • 24 hours Donald Trump Proposes Harnessing Liberal Tears To Provide Clean Energy
Alt Text

This Supermajor Is Leading The Energy Sector

This supermajor has been standing…

Alt Text

What The Market Is Overlooking In The Occidental Deal

Occidental Petroleum has caught a…

Alt Text

How To Play A Recovery In Oil Prices?

A realistic correction in the…

Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Premium Content

Here's An Unusual Move For This Emerging Oil Major

We saw an unexpected entrant into the world's biggest deepwater play last week.

PTTEP, the national oil company of Thailand. Who signed a deal to jump into a new project realm for the company, in offshore Brazil.

The Asian petro-major will take 25% of four deepwater blocks here held by BG Group. Covering over 3,000 square kilometres in the Barreirinhas basin.

The deal is an important signal of shifts underway in the global oil sector. Particularly in terms of telling us who the next generation of major petroleum-producing countries around the world are going to be.

A company like PTTEP is quietly becoming a contender to be a big world player in oil and gas. With the firm having been expanding rapidly lately.

And not just in its backyard in Thailand. PTTEP has been aggressively stepping out of its comfort zone. Both in Asia--where it controls major projects in Vietnam, Indonesia and emerging natgas-producer Myanmar. And further afield, with the company having struck project deals in Canada, Australia, Kenya and Algeria.

That's a very aggressive expansion program for a company many investors have never heard of.

But we might be running into PTTEP a lot more soon on the global stage. The firm bears many striking similarities to another Asian major: Malaysia's Petronas. A company that bootstrapped itself into one of the most advanced offshore explorers in the world.

PTTEP isn't there yet. But the company has been making some next-generation moves on its home turf in Thailand.

The Thai oil sector is one of the first globally to apply directional drilling and multi-stage fracking. With the latter even having been executed in the offshore.

That makes this part of the world one of the most advanced in terms of unconventional development, outside the U.S.

PTTEP's new Brazilian deal is just one more sign this is a company--and a producing nation--on the rise. Something to remember as we look for hydrocarbon plays globally.

Here's to rising stars,

By Dave Forest




Download The Free Oilprice App Today

Back to homepage



Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play