PTTEP and Valeura Finalize Investment Decision for Phase One of Bussabong Gas Project
Thailand's PTT Exploration and Production (PTTEP) has reached a final investment decision with its partner, Canada-based Valeura Energy, to proceed with phase one development at the offshore Bussabong gas field in Thailand’s Gulf. The project involves installing two wellhead platforms connected by a 9km subsea pipeline to existing infrastructure at the neighboring Bongkot field. PTTEP operates both fields and will retain a 60% stake, while Valeura holds 40%. First gas production is expected by late 2028. The initial phase requires approximately $35 million in capital expenditure for facilities and pipelines over 2027–2028. Additional drilling costs are projected at $20–$25 million, with no major spending planned this year. Valeura’s CEO emphasized the strategic importance of the project as its first organic gas development in Thailand and a step toward diversifying operations. Production from phase one is expected to reach 30–40 million cubic feet per day by 2029–2030, with Valeura receiving about 16mcf/d. The gas will be sold under long-term contracts typical of Thailand’s domestic market.
