PTT Exploration and Production Public Company (PTTEP)

PTT Group

Iran has signed a basic agreement with Thailand’s PTT Exploration and Production Public Company Limited (PTTEP) to study its Changuleh oil field which appears to be one of the country’s emerging top oil project prizes. Based on the agreement that the PTTEP signed with the National Iranian Oil Company (NIOC), it would have to study Changuleh – as well as Balal and Dalamperi oil fields - within six months. The Ministry would then evaluate the Thai company’s findings and decide on whether to award the project’s development to the company. Gholam-Reza Manouchehri, the NIOC deputy for engineering and development affairs, told reporters after signing the agreement with the PTTEP that several other international companies had also won agreements to study the three fields. (Press TV,  "Thailand's PTTEP to study Iran's Changuleh" 12/6/2016).


PTT Exploration and Production engaged in exploration and development of Iran's Saveh block natural gas field, signing a 25-year contract in 2005 for a 100% stake in the Saveh block (GAO Report 2010, "Firms Reported in Open Sources as Having Commercial Activity in Iran’s Oil, Gas, and Petrochemical Sectors").